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The preferred stock of Dallas Platinum Exchange has a par value of $ 6 6 and pays a 7 % dividend rate per year. You

The preferred stock of Dallas Platinum Exchange has a par value of $66 and pays a 7% dividend rate per year. You calculated a beta of 1.37 for the stock. The risk-free rate is 3.46% and the market return is 9.2%. Assuming that CAPM holds, what is the intrinsic value of this preferred stock? DO NOT ENTER THE $ SIGN.ALSO, ENTER YOUR ANSWER AS A POSITIVE NUMBER. SET YOUR CALCULATOR TO 4 DECIMAL PLACES AND ROUND TO TWO DECIMAL PLACES AT THE END, i.e. IF YOUR ANSWER IS33.4348 ENTER IT AS 33.48 ONLY

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