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E-Eyes.com just issued some new preferred stock. The issue will pay an annual dividend of $15 in perpetuity, beginning 10 years from now. If the

E-Eyes.com just issued some new preferred stock. The issue will pay an annual dividend of $15 in perpetuity, beginning 10 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

$214.29

$110.73

$108.93

$122.39

$116.56

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