Josh has been offered the opportunity to buy some preference shares in A.C. Hatrick Chemicals Limited. Preference shares are safer than ordinary shares, so Henry thinks that a suitable value for the required rate of return for these shares is 7% per annum. The company will pay an annual dividend at the end of each year... The dividend will be $1.50 per share, and is forecast to be paid forever. Based on this information, one preference share in A.C. Hatrick is worth approximately Select one: a. $20.47 b. $22.87 c. $24.19 d. $21.43