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E-Eyes.com just issued some new preferred stock. The issue will pay an annual dividend of $7 in perpetuity, beginning 6 years from now. If the

E-Eyes.com just issued some new preferred stock. The issue will pay an annual dividend of $7 in perpetuity, beginning 6 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

$74.86
$100.00
$71.30
$67.73
$66.63

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