Sony $4.50 preferred is selling for $65.5. The preferred dividend is no growing. What is the required

Question:

Sony $4.50 preferred is selling for $65.5. The preferred dividend is no growing. What is the required return of 12% APR (3% per quarter). What is the stock worth?

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...