Question: David is considering purchasing some preferred stock from Pharoah Corp. The company pays a $9 annual dividend per share on its preferred stock, and similar

David is considering purchasing some preferred stock from Pharoah Corp. The

David is considering purchasing some preferred stock from Pharoah Corp. The company pays a $9 annual dividend per share on its preferred stock, and similar risk companies are earning 6% annual returns. What should be the value of the stock per share? $5.40 $1500.00 $54.00 $150.00

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