Question
Title: Preferred stock (solve for value) Timeless Corporation issued preferred stock with a par value of $700. The stock promised to pay an annual dividend
Title: Preferred stock (solve for value)
Timeless Corporation issued preferred stock with a par value of $700. The stock promised to pay an annual dividend equal to 19.0% of the par value. If the appropriate discount rate for this stock is 10.0%, what is the value of the stock?
Notes: Please solve by using TI-84 calculator.
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Valuation Measuring And Managing The Value Of Companies
Authors: McKinsey & Company Inc., Tom Copeland, Tim Koller, Jack Murrin
3rd Edition
