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Investors require a return of 6.3% per year to hold a perpetual preferred stock. The prefe

Investors require a return of 6.3% per year to hold a perpetual preferred stock. The prefe

Investors require a return of 6.3% per year to hold a perpetual preferred stock. The preferred stock has a par value of $65 per share and it pays an annual dividend of $4.25 per share. What is its intrinsic value per share?

1. $60.79

2. $67.46

3. $65.59

4. $68.32

5. $62.85

Abhinav 04-Dec-2019

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