Homework Help: Finance

Posted by Anonymous on Monday, November 28, 2011 at 6:21pm.

GE issued preferred stock that had a par value of $100. The preferred stock pays a dividend of 6.50%. Investors require 5.7% today on this stock. What is the value of the preferred stock today? Round to the nearest $1.

(A) $100
(B) $88
(C) $75
(D) $114

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