Tri
State Pickle Company preferred stock pays a perpetual annual dividend
of 2 1/2% of its par value. Par value of TSP preferred stock is $100 per
share. If investors’ required rate of return on this stock is 15%, what
is the value of per share?
A. $6.00
B. $16.67
C. $37.50
D. $15.00
A. $6.00
B. $16.67
C. $37.50
D. $15.00
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