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Sergio [31]
3 years ago
12

E-Eyes Bank just issued some new preferred stock. The issue will pay a $9 annual dividend in perpetuity, beginning 6 years from

now. If the market requires a 6 percent return on this investment, how much does a share of preferred stock cost today
Business
1 answer:
goldenfox [79]3 years ago
6 0

Answer:

Explanation:

Calculation to determine future sales discounts

Using this formula

Value of Preferred Stock in year 5 =Annual Dividend/Required Rate

Let Plug in the formula

Value of Preferred Stock today =(6/6%)/(1+6%)^5

Value of Preferred Stock today =100/(1+6%)^5

=124.58

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