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April 20, 2014

Homework Help: finance

Posted by Anonymous on Monday, October 14, 2013 at 2:53pm.

The First Bank of Ellicott City has issued perpetual preferred stock with a $100 par value. The bank pays a quarterly dividend of $1.65 on this stock. What is the current price of this preferred stock given a required rate of return of 13.0 percent?

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