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Coolen Inc. has an outstanding issue of perpetual preferred stock with an annual dividend of...

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Question

Accounting

Coolen Inc. has an outstanding issue of perpetual preferred stock with an annual dividend of $2.50 per share. If the required return on this preferred stock is 6.5%, at what price should the stock sell?

1.

$38.46
2.

$30.00
3.

$46.54
4.

$44.23
5.

$41.54

Answer & Explanation Solved by verified expert
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