Question $13$

Nickelplate Manufacturing Corporation $($NMC$)$ is capitalized with $1$ million shares of a $6\%$ $$50$ par callable preferred stock and $10$ million shares of $$1$ par common stock. Your customer's required rate of return on fixed income investments is $8\%.$ The NMC preferred stock would be an appropriate addition to this customer's portfolio only if the stock was not priced in excess of

A$)$ $$40\mathrm{.}00$

B$)$ $$75\mathrm{.}00$

C$)$ $$37\mathrm{.}50$

D$)$ $$66\mathrm{.}66$