Question: Builtrite preferred stock has a 3.5% coupon based on a par value of $80 a share. Currently, investors require a 4% return. What is the

Builtrite preferred stock has a 3.5% coupon based on a par value of $80 a share. Currently, investors require a 4% return. What is the value of Builtrites preferred stock?

Group of answer choices

$70.00

$88.57

72.50

$91.43

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