Argaiv Towers has outstanding an issue of preferred stock with a par value of $100. It pays an annual dividend equal to 8% of par value. If the required return on Argaiv preferred stock is 6%, and if Argaiv pays its next dividend in one year, what is the

Argaiv Towers has outstanding an issue of preferred stock with a par value of $100. It pays an annual dividend equal to 8% of par value. If the required return on Argaiv preferred stock is 6%, and if Argaiv pays its next dividend in one year, what is the

Argaiv Towers has outstanding an issue of preferred stock with a par value of
$100. It pays an annual dividend equal
to 8% of par value. If the required
return on Argaiv preferred stock is 6%, and if Argaiv pays its next dividend in
one year, what is the market price of the preferred stock today?


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