Value of the preferred stock today, Accounting Basics

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Value of the preferred stock today

Problem:

Sacramento Light & Power issued preferred stock in 1998 that had a par value of $85. The preferred stock pays a dividend of 5.75%. Investors require a rate of return of 6.50% today on this stock.

Required:

Question: What is the value of the preferred stock today?

Note: Explain all calculation and formulas.

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Accounting Basics: Value of the preferred stock today

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Accounting Basics: Value of the preferred stock today

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