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QUESTION
Favored stock will pay a dividend this year of $3.50 per share. Its dividend yield is 21%. At what price is the stock selling?
(Round your answer to 2 decimal places.)
Preferred Products has issued preferred stock with an annual dividend of $8.16 that will be paid in perpetuity.
a. If the discount rate is 12.00%, at what price should the preferred sell? (Round your answer to 2 decimal places.)
b.(Round your answer to 2 decimal places.)
c.(Enter your answers as a whole percent.)
