The formula for the valuation of a share of preferred stock is Po = Dlrs. In this equation, the variable D represents the share's current value Mad ,000 shares of the preferred stock of Sanger Machine Company. The stock carries a par value of $100 per sha coupon payment on the share 5%. Alternative investments of comparable risk are generating yields of 8.00%. Given this information, the per- bck should be: annual dividend paid on the share $128.91