Rachel2019-11-28 17:28:17
RachelA perpetual preferred stock makes its first quarterly dividend payment of $2.00 in five quarters. If the required annual rate of return is 6% compounded quarterly, the stock’s present value is closest to？ PV=A/r=133为什么答案是126？
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Bingo2019-11-28 18:14:48
Bingo因为是从第五个季度开始才算入永续年金。第一步：用A/R得出来的是“4”时点的PV。“4”时点相当于整个永续年金的期初。第二步：往前再折现4期，每期利率=年利率6%/4=1.5%.
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