Question: Please show me step by step, how do we get this final answer of $750? thanks 17) What is the value of a $1,000 face

Please show me step by step, how do we get this

Please show me step by step, how do we get this final answer of $750? thanks

17) What is the value of a $1,000 face value preferred share with an annual pay 6% coupon if the relevant discount rate is 896? a) $729.35 b) $857.14 c) $714.29 d) S750.00 e) None of the above A maturity date is not specified because preferred shares pay off perpetually. 20 face value 1.000 1.000 coupon 596 696 discount rate 796 896 value 71429 750.00

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