The Sentinel Corporation has an issue of preferred stock that pays a dividend of $$5\mathrm{.}00$ a share. If the appropriate cost of capital is $12\%,$ what would you expect the market price of this stock to be$?$ Round you answer to the nearest cent

The Sentinel Corporation has an issue of preferred stock that pays a dividend of $$5\mathrm{.}00$ a share. If the appropriate cost of capital is $12\%,$ what would you expect the market price of this stock to be$?$ Round you answer to the nearest cent

$$22\mathrm{.}41$

$$24$

$$41\mathrm{.}67$

$$60$