Question 5 1 pts What is the present value of a preferred stock that pays a perpetual dividend of $480 at the end of each year when the interest rate is 3 percent? $160 O $1,440 $16,000 $1,600 O None of the amounts shown is correct.

Question 5 1 pts What is the present value of a preferred stock that pays a perpetual dividend of $480 at the end of each year when the interest rate is 3 percent? $160 O $1,440 O $16,000 O $1,600 None of the amounts shown is correct.