Southern Utilities just issued some new preferred stock.The issue will pay a $19 annual dividend in perpetuity beginning 9 years from now.What is one share of this stock worth today if the market requires a 7 percent return on this investment?
A) $157.97
B) $164.16
C) $189.08
D) $241.41
E) $271.43
Correct Answer:
Verified
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