Bank just issued some new preferred stock

Bank just issued some new preferred stock

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Reference no: EM132017290

E-Eyes.com Bank just issued some new preferred stock. The issue will pay a $6 annual dividend in perpetuity, beginning 8 years from now. If the market requires a 0.06 return on this investment, how much does a share of preferred stock cost today? Enter the answer with 2 decimals.

Reference no: EM132017290

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