Carby Hardware has an outstanding issue of perpetual preferred stock with an annual dividend of $7.50 per share. If the required return on this preferred stock is 6.5%, at what price should the preferred stock sell?
Group of answer choices
A. $109.69
B. $115.38
C. $104.27
D. $112.50
E. $106.95

Question

08-06-2024
Business

Answered

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Carby Hardware has an outstanding issue of perpetual preferred stock with an annual dividend of $7.50 per share. If the required return on this preferred stock is 6.5%, at what price should the preferred stock sell?
Group of answer choices
A. $109.69
B. $115.38
C. $104.27
D. $112.50
E. $106.95

Sagot :

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