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E-Eyes.com just issued some new preferred stock. The issue will pay an annual dividend of...

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Accounting

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E-Eyes.com just issued some new preferred stock. The issue will pay an annual dividend of $15 in perpetuity, beginning 5 years from now. If the market requires a 7 percent return on this investment, how much does a share of preferred stock cost today? Multiple Choice $214.29 $163.48 $171.65 $152.78 $155.30

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