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E-Eyes.com Bank just issued some new preferred stock. The issue will pay a $13 annual dividend in perpetuity, beginning 6 years from now. Required :

E-Eyes.com Bank just issued some new preferred stock. The issue will pay a $13 annual dividend in perpetuity, beginning 6 years from now. Required : If the market requires a 6 percent return on this investment, how much does a share of preferred stock cost today?

a. $153.81

b. $216.67

c. $161.91

d. $152.74

e. $170.00

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