As a unit of measure, money makes it easier for consumers to do what? a. compare prices of different products. b. make a bigger
1 answer:
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Answer:
Present value of the security = $1,888.89
Explanation:
The annual dividend of $170 represents a perpetual income stream. The present value of a perpetuity is calculated as follows:
where r =interest rate per annum that would be compounded for each year
Therefore, present value of the security = = $1,888.89