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QUESTION 12 MECCS Inc.just issued some new preferred stock. The issue will pay an annual dividend of $11.60 per share in perpetuity, beginning 9 years

QUESTION 12 MECCS Inc.just issued some new preferred stock. The issue will pay an annual dividend of $11.60 per share in perpetuity, beginning 9 years from now. If the market requires a return of 6.27 percent on this investment, how much does a share of preferred stock cost today? O A $107.03 OB. $99.02 OC 5113.74

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