The Radley company has decided to undertake a large new project. Consequently, there is a need for additional funds. The financial manager decides to issue Preferred stock which has a stated dividend of $11.00 per share and a par value of $100. If the required return on this stock is currently 16%, what should be the stocks current market value?

A.68.75

b.73.33

c.46.25

d100

e.11