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The market price of a share of preferred stock is $42.25. The market uses a discount rate of 4.09%. What is the dividend? Caspian Sea

The market price of a share of preferred stock is $42.25. The market uses a discount rate of 4.09%. What is the dividend?

Caspian Sea is considering raising $18.00 million by issuing preferred stock. They believe the market will use a discount rate of 10.51% to value the preferred stock which will pay a dividend of $4.97. How many shares will they need to issue?

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