Burnham amp companys 7500 par-value preferred stock pays an, Financial Management

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Burnham amp companys 7500 par-value preferred stock pays an

Burnham & Company's $75.00 par-value preferred stock pays an annual dividend of $11.00. The stock has a beta of 0.85, the current T-bill rate is 2.40%, and the S&P 500's expected return (RM) is 11.30%. Assuming that CAPM holds, what is the intrinsic value of this preferred stock?

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Financial Management: Burnham amp companys 7500 par-value preferred stock pays an

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