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Please show how it would be calculated on EXCEL Smiling elephant inc has an issue of...

Please show how it would be calculated on EXCEL

Smiling elephant inc has an issue of preferred stock outstanding that pays $3.45 dividend every year, in perpetuity. If this issue currently sells for $77.32 per share, what is the required return?

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The required return is equal to Annual dividend /Current price Annual dividend = 3.45 Current price = 77.32 required rate = (

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