What price should the preferred stock sell

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Reference no: EM13874876

Carby Hardware has an outstanding issue of perpetual preferred stock with an annual dividend of $7.00 per share. If the required return on this preferred stock is 6.5%, at what price should the preferred stock sell?

$102.55

$106.95

$107.69

$112.50

$115.38

Reference no: EM13874876

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