Mark Bank has just issued some new preference shares. The issue will pay a 5 annual dividend
Question:
Mark Bank has just issued some new preference shares.
The issue will pay a £5 annual dividend in perpetuity, beginning 4 years from now. If the market requires an 8 per cent return on this investment, how much do preference shares cost today?
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Related Book For 
Corporate Finance
ISBN: 9780077173630
3rd Edition
Authors: David Hillier, Stephen A. Ross, Randolph W. Westerfield, Bradford D. Jordan, Jeffrey F. Jaffe
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