New issue of preferred stock

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Reference no: EM13870710

E-Eyes.com has a new issue of preferred stock it calls 20/20 preferred. The stock will pay a $20 dividend per year, but the first dividend will not be paid until 20 years from today.

Required:

If you require a 11.00 percent return on this stock, how much should you pay today?

Reference no: EM13870710

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