What is the value of a preferred stock that pays a $2.10 dividend annually to an - 3408

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What is the value of a preferred stock that pays a $2.10 dividend annually to an investor with a required rate of return of 11%? (round your answer to the nearest $1)

a. $17

b. $19

c. $21

d. $23 

Solution Description

What is the value of a preferred stock that pays a