Question: Question 10: (10 points) (Preferred stock valuation) Calculate the value of a preferred stock that pays a dividend of $8.00 per share when the market's

Question 10: (10 points) (Preferred stock valuation) Calculate the value of a preferred stock that pays a dividend of $8.00 per share when the market's required yield on similar shares is 13 percent. (Round to the nearest cent.)

a. The value of the preferred stock is

Per share

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