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E - Eyes.com just issued some new 2 0 / 2 0 preferred stock. The issue will pay an annual dividend of $ 2 7

E $-$ Eyes.com just issued some new $20 / 20$ preferred stock. The issue will pay an annual dividend of $ $27$ in perpetuity, beginning $16$ years from now. If the market requires a return of $4.1$ percent on this investment, how much does a share of preferred stock cost today?

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Question

E - Eyes.com just issued some new 2 0 / 2 0 preferred stock. The issue will pay an annual dividend of $ 2 7

E-Eyes.com just issued some new 20/20 preferred stock. The issue will pay an annual dividend of $27 in perpetuity, beginning 16 years from now. If the market requires a return of 4.1 percent on this investment, how much does a share of preferred stock cost today?

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Recommended Textbook for

Fundamental Accounting Principles

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E $-$ Eyes.com just issued some new $20 / 20$ preferred stock. The issue will pay an annual dividend of $ $27$ in perpetuity, beginning $16$ years from now. If the market requires a return of $4.1$ percent on this investment, how much does a share of preferred stock cost today?