The Morgan Music Company has common and preferred stock outstanding.The preferred stock pays an annual dividend of $9 per share,and the required rate of return for similar preferred stocks is 8%.The common stock paid a dividend of $2.00 per share last year,but the company expected that earnings and dividends will grow by 30% for the next two years before dropping to a constant 5% growth rate afterward.The required rate of return on similar common stocks is 11%
What is the per-share value of the company's preferred and common stock?

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The Answer of The Morgan Music Company has common and preferred stock outstanding.The preferred stock pays an annual dividend of $9 per share,and the required rate of return for similar preferred stocks is 8%.The common stock paid a dividend of $2.00 per share last year,but the company expected that earnings and dividends will grow by 30% for the next two years before dropping to a constant 5% growth rate afterward.The required rate of return on similar common stocks is 11%
What is the per-share value of the company's preferred and common stock?

The Morgan Music Company Has Common and Preferred Stock Outstanding