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E-Eyes.com just issued some new preferred stock. The issue will pay an annual dividend of $9 in perpetuity, beginning 8 years from now. If the

E-Eyes.com just issued some new preferred stock. The issue will pay an annual dividend of $9 in perpetuity, beginning 8 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

$99.76
$94.11
$150.00
$94.77
$104.75

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