Question: Problem 8 - 2 2 Valuing Preferred Stock [ LO 1 ] E - Eyes.com just issued some new 2 0 2 0 preferred stock.

Problem 8-22 Valuing Preferred Stock [LO1]
E-Eyes.com just issued some new 2020 preferred stock. The issue will pay an annual
dividend of $26 in perpetuity, beginning 15 years from now. If the market requires a
return of 4 percent on this investment, how much does a share of preferred stock cost
today? (Do not round intermediate calculations and round your answer to 2 decimal
places, e.g.,32.16.)
Stock price
Please provide detailed step-by-step. TY
Problem 8-22 Valuing Preferred Stock [LO1] E-Eyes.com just issued some new

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