Question: Answer Score Maximum Score Paxson Bank just issued some new preferred stock. This stock will pay an annual dividend of $20 in perpetuity, beginning 5

Answer Score Maximum Score Paxson Bank just issued some new preferred stock. This stock will pay an annual dividend of $20 in perpetuity, beginning 5 years from now. If the market requires a return of 5.8 percent on this investment, how much does a share of preferred stock cost today? 10.00

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