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E-Eyes.com just issued some new preferred stock. The issue will pay an annual dividend of $14 in perpetuity, beginning 12 years from now. If the

E-Eyes.com just issued some new preferred stock. The issue will pay an annual dividend of $14 in perpetuity, beginning 12 years from now.

If the market requires a 6 percent return on this investment, how much does a share of preferred stock cost today?

Multiple Choice

$115.96
$116.77
$129.06
$122.92
$233.33

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