(Answered) Preferred stock valuation pioneers preferred stock is

Finance

(Preferred stock valuation) Pioneer's preferred stock is selling for $38 in the market and pays $3.80 annual dividend

If the market's required yield is 8 percent, what is the value of the stock for that investor? $____ per share (round to nearest cent)
Should the investor acquire the stock? Is it overpriced or underpriced?

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