Willie's Western Corp. has outstanding nonconvertible preferred stock (cumulative) that pays a quarterly dividend of $1.25. If your required rate of return is 9.5%, what should you be willing to pay for 1000 shares of Willie's Western?
A) $52,631.58
B) $52,621.58
C) $52,611.58
D) $52,601.58
Correct Answer:
Verified
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