A preferred stock from Duquesne Light Company (DQUPRA) pays $4.00 in annual dividends.
A preferred stock from Duquesne Light Company (DQUPRA) pays $4.00 in annual dividends.
If the required return on the preferred stock is 6.90 percent, what's the value of the stock? (Round your answer to 2 decimal places.)
Homework Answers
Value of Preferred Stock = Annual Dividend/Required Rate of Return
Value = $4/6.90%
Value = $57.97
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