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Answer to Question #190704 in Financial Math for Sareen

Question #190704

An oil company has issued preferred stock with $10 annual dividend that will be paid in perpetuity.

a. If the discount rate is 14%. What price must the stock sale?


1
Expert's answer
2021-05-11T13:54:03-0400

Annual dividend = $10.00

Discount rate = 14%

Stock price = Annual dividend/Discount rate

Stock price = $10.00/0.14

Stock price = $71.43


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