The Leverton Company plans to issue preferred stock with a perpetual annual dividend of $7 per share and a par value of $32 If the required return on this stock is currently 11 , what should be the stock 's market value ...

The Leverton Company plans to issue preferred stock with a perpetual annual dividend of $7 per share

Question:

The Leverton Company plans to issue preferred stock with a perpetual annual of $7 per share and a of $32. If the required return on this stock is currently 11%, what should be the stock's market value?
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...