What is the price of the firm perpetual preferred stock

Reference no: EM131954833

Question: Carlysle Corporation has perpetual preferred stock outstanding that pays a constant annual dividend of $1.00 at the end of each year. If investors require an 7% return on the preferred stock, what is the price of the firm's perpetual preferred stock? Round your answer to the nearest cent. Do not round intermediate calculations.

Reference no: EM131954833

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