问题
单项选择题
An analyst does research about cost of capital and gathers the following information about a company's preferred stock. The preferred stock is nonconvertible, noncallable, and has a fixed dividend rate with no maturity date :
·3 million shares outstanding
·The par value per share is $15
·Total market value is $39 million
·Earnings per share is $2.1
·Annual dividend per share is $0.8
·Company's marginal tax rate is 30%。
The cost of preferred stock is closest to:（）
A. 4.31%
B. 5.33%
C. 6.15%
答案
参考答案：C
解析：
cost of preferred stock= dividend/(market value/number of preferred shares outstanding), 代入数据如下：$0.8/($39 million/3 million) =6.15%。