题目
Morgan Insurance Ltd. issued a fixed-rate perpetual preferred stock three years ago and placed it privately with institutional investors. The stock was issued at $25 per share with a $1.75 dividend. If the company were to issue preferred stock today, the yield would be 6.5 percent. The stock's current value is:
选项
A.$25.00
B.$26.92
C.$37.31
答案
B
解析
Answer: B The company can issue preferred stock at 6.5%. Price = $1.75/0.065 = $26.92 这道题目问的是摩根保险有限公司(Morgan Insurance Ltd.)三年前发行了固定利率的永久优先股。该股以每股25美元的价格发行，股利为1.75美元。如果该公司现在发行优先股，收益率将为6.5%。该股当前价值为:该公司可以发行6.5%的优先股。Pp = $1.75/0.065 = $26.92因此B选项正确