A preferred stock has a face value of $100 and pays annual dividends at a rate of

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A preferred stock has a face value of $100 and pays annual dividends at a rate of 8 percent. The required rate of return on this stock is 12 percent. What is the price of this security if the next dividend is paid in exactly one year?

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Fundamentals of Corporate Finance

ISBN: 978-0077861629

8th Edition

Authors: Stephen A. Ross, Randolph W. Westerfield, Bradford D.Jordan

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Posted Date: Apr 28, 2023 04:08 AM

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A preferred stock has a face value of $100 and pays annual dividends at a rate of

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Fundamentals of Corporate Finance

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