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Unlike common stocks, preferred stocks pay a fixed dividend. Suppose a share of preferred stock pays a fixed dividend of $3 a year forever. If
Unlike common stocks, preferred stocks pay a fixed dividend. Suppose a share of preferred stock pays a fixed dividend of $3 a year forever. If it sells for $90, what must be the discount rate?
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Options Futures and Other Derivatives
Authors: John C. Hull
10th edition
013447208X, 978-0134472089
