MC algo $8-14$ Valuing Preferred Stock

Kindzi Company has preferred stock outstanding that is expected to pay an annual dividend of $$3\mathrm{.}55$ every year in perpetuity. If the required return is $3\mathrm{.}74$ percent, what is the current stock price?

Multiple Choice

$$88\mathrm{.}59$

$$85\mathrm{.}43$

$$91\mathrm{.}50$

$$94\mathrm{.}92$

$$98\mathrm{.}47$

Prey

$7$ of $10$

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