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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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