Question: how to solve this problem? plz solve it step by step, do not use excel Manic Corporation issued 200,000 preferred shares with a book value

how to solve this problem? plz solve it step by step, do not use excel

how to solve this problem? plz solve it step by step, do

Manic Corporation issued 200,000 preferred shares with a book value of $10 million three years ago. If the required return is 8.42% and the current market value of these preferred shares is $9.5 million, what is the annual dividend? $4.71 $4.00 Cannot be calculated $2.50

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