al Inc. wants to offer preferred stock for sale at a price of $60 a share. The company wants its investo a 6.5 percent rate of return. What is the minimum annual dividend the firm will need to pay per share

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Taj Mahal Inc. wants to offer preferred stock for sale at a price of $60 a share. The company wants its investors
to earn a 6.5 percent rate of return. What is the minimum annual dividend the firm will need to pay per share?
$5.20
$3.90
$2.23
$4.50
I need help I need answer soon as possible !!
Transcribed Image Text:Taj Mahal Inc. wants to offer preferred stock for sale at a price of $60 a share. The company wants its investors to earn a 6.5 percent rate of return. What is the minimum annual dividend the firm will need to pay per share? $5.20 $3.90 $2.23 $4.50 I need help I need answer soon as possible !!
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