NO.PZ201710200100000305
问题如下:
5. The capitalization rate of the preferred stock of Standard Company is closest to:
选项:
A.2.75%.
B.4.96%.
C.5.54%.
解释:
C is correct.
The value of non-callable fixed-rate perpetual preferred stock is calculated as
where D is the constant dividend per share and r is the discount rate. The discount rate of a perpetuity is often called the capitalization rate. For Standard Company, the dividend is D = 2.75% × $100 = $2.75.
Therefore,
答案显示不全,r=div/v0=(100*2.75%)/49.6=5.54%