| December 10, 2015

The Troutman Company has decided to undertake a large project. Consequently, there is a need for additional funds. The financial manager plans to issue preferred stock with a perpetual annual dividend of $8 per share and a par value of $25. If the required rate of return on this stock is currently 15 percent, what should be the stock’s market value? PLEASE SHOW ALL WORK!!!! THANKS!!!

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