问题如下:
The non-convertible and non-redeemable preferred shares issued by the American life insurance company are 5.80 percent at $30 par value. Similar issue has a required rate of return of 5 percent. The intrinsic value of preferred stock is closest to:
选项:
A.30.0
B.34.8.
C.25.6
解释:
B is correct.
The expected annual dividend is equal to 5.8% × $30= $1.74. The value of preferred stock is $1.74/0.05 = $34.8.
P=D/r是怎么得来的,怎么没有一点印象