Question 3 1 pts The preferred stock of Dallas Platinum Exchange has a par value of $78 and pays a 5% dividend rate per year. You calculated a beta of 0.63 for the stock. The risk-free rate is 2.55% and the market return is 9.2%. Assuming that CAPM holds, what is the intrinsic value of this preferred stock? DO NOT ENTER THE $ SIGN. ALSO, ENTER YOUR ANSWER AS A POSITIVE NUMBER. SET YOUR CALCULATOR TO 4 DECIMAL PLACES AND ROUND TO TWO DECIMAL PLACES AT THE END, i.e. IF YOUR ANSWER IS 33.4348 ENTER IT AS 33.48 ONLY

The preferred stock of Dallas Platinum Exchange has a par value of $78 and pays a 5% dividend rate per year. You calculated a beta of 0.63 for the stock. The risk-free rate is 2.55% and the market return is 9.2%. Assuming that CAPM holds, what is the intrinsic value of this preferred stock? DO NOT ENTER THE \$ SIGN. ALSO, ENTER YOUR ANSWER AS A POSITIVE NUMBER. SET YOUR CALCULATOR TO 4 DECIMAL PLACES AND ROUND TO TWO DECIMAL PLACES AT THE END, i.e. IF YOUR ANSWER IS 33.4348 ENTER IT AS 33.48 ONLY