Question 31 point) The preferred stock of firm ZZZ pays a dividend of $150 pery. The first dividend on the stock will be paid one year from now and each subsequent dividend will be paid one year after the previous dividend The dividends will continue forever and thwmount of each dividend will stay the same forever. Today, the discount rate bein used to value the stock is 12% per year compounded annually. Assume you buy the stock today, hold it for one year until you receive the first dividend and then se it immediately after receiving the first dividend for $11.92 What percentage retum will you have earned on your immestment in the stock? Round all intermediate calculations to 6 decimal points. Your final answer should be within 0.05% of the correct answer choice. 12.58% 12.00% 7.36% 13.50% Question 4 (1 point) Listen