Question: Please reply me fast answer. QUESTION 10 Several years ago, Rolen Riders issued preferred stock with a stated annual dividend of 12% of its $80

Please reply me fast answer.

QUESTION 10

Several years ago, Rolen Riders issued preferred stock with a stated annual dividend of 12% of its $80 par value. Preferred stock of this type currently yields 15%. Assume dividends are paid annually.What is the estimated value of Rolen's preferred stock?

$75
$80
$125
$90
$64

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