JPMorgan Chase issued a preferred stock that trades at a current yield of 7.500%. The shares pay the holder $0.75 every 4 months. What is the market price of this preferred stock? JPMorgan Chase issued a preferred stock that trades at a current yield of 7.500%. The shares pay the holder $0.75 every 4 months.

What is the market price of this preferred stock?

$45.000

$40.000

$50.000

$40.375