QUESTION $28$

A preferred stock pays a $$6\mathrm{.}05$ dividend per share every year. If investors require a $7\mathrm{.}6\%$ return on this preferred stock, what is the preferred stock's intrinsic value?

$$58\mathrm{.}97$

$$69\mathrm{.}95$

$$79\mathrm{.}61$

$$84\mathrm{.}52$

none of these