Current yields are 9 percent on a preferred share that pays a perpetual annual dividend of $6.00.

Question:

Current yields are 9 percent on a preferred share that pays a perpetual annual dividend of $6.00. What is the appropriate price of one preferred?

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...

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