E-Eyes.com just issued some new preferred stock. The issue will pay an annual dividend of $12 in perpetuity, beginning 7 years from now. If the market requires a 7 percent return on this investment, how much does a share of preferred stock cost today? Multiple Choice $171.43 $119.94 $106.76 $114.23 $108.52 Burnett Corp. pays a constant $27 dividend on its stock. The company will maintain this dividend for the next 5 years and will then cease paying dividends forever. If the required return on this stock is 11 percent, what is the current share price? Multiple Choice $135.00 $110.77 $97.79 $104.78 $99.79