Hershey Chocolate Company issued $1 million of 5.5% preferred stock at $70 per share. If an...

  

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Hershey Chocolate Company issued $1 million of 5.5% preferred stock at $70 per share. If an investor requires a 4.5% return on Hershey with a 1% growth rate per year, what is the present value of the preferred stock per share (select the closest $$ amount)? Hershey Chocolate Company issued $1 million of 5.5% preferred stock at $70 per share. If an investor requires a 4.5% return on Hershey with a 1% growth rate per year, what is the present value of the preferred stock per share (select the closest $$ amount)?

Answer rating: 100% (QA)

To calculate the present value of the preferred stock per share we can use th... View the full answer