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iVinArrow [24]
3 years ago
14

A preferred stock pays an annual dividend of $5.20. What is one share of this stock worth today if the rate of return is 10.44 p

ercent?
Business
1 answer:
tekilochka [14]3 years ago
4 0

Answer:

$49.81

Explanation:

The stock price of the one share of the preferred stock in the given question  shall be determined through the dividend valuation formula which is given as follow:

Price of share=Dividend  per share/Rate of return

In the given question:

Dividend  per share=$5.20

Rate of return=10.44%

Price of share=5.20/10.44%=$49.81

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