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Zag Inc. just issued new shares of preferred stock that will pay an annual dividend of $5.25 per share in perpetuity beginning two years from
Zag Inc. just issued new shares of preferred stock that will pay an annual dividend of $5.25 per share in perpetuity beginning two years from today. the market requires a return of 9% on this investment. Which of the following values is closest to the value of the presferred shares today?
Group of answer choices
45.01 to 50.00
Less than 45.01
55.01 to 60.00
More than 60.00
50.01 to 55.00
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