The growth rate for the firm's common stock is

7%

. The firm's preferred stock is paying an annual dividend of

$3

. What is the preferred stock price if the required rate of return is

8%

?\ Multiple Choice\

$3.00

\

$37.50

\

$50.00

\ None of these options

The growth rate for the firm's common stock is 7%. The firm's preferred stock is paying an annual dividend of $3. What is the preferred stock price if the required rate of return is 8% ? Multiple Choice $3.00 $37.50 $50.00 None of these options