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Molen Inc. has an outstanding issue of perpetual preferred stock with an annual dividend of $8.50 per share. If the required return on this preferred stock is 6.5%, then at what price should the stock sell

Respuesta :

Tundexi

Answer:

$130.77

Explanation:

Price of preferred stock = Annual dividend / Required return

Price of preferred stock = $8.50/0.065

Price of preferred stock = $130.7692307692308

Price of preferred stock = $130.77

lilymolen

the stock price is : $130.77

                    Hope this helps! good luck :)

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