Question: TCL has decided to undertake a project for additional funds. The finance manager plans to issue preference shares with an annual dividend of $5 per

TCL has decided to undertake a project for additional funds. The finance manager plans to issue preference shares with an annual dividend of $5 per share. The share will have a par value of $30. IF investors required rate of return on this investment is 20%, What should the preference shares market value be?

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