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Preferred stock

IF the required rate of return is 9 3/3 % and the dividend for preferred stock is $6.50, what would be the value of this preferred stock?

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Brad M. | Professional Tutor: Ultra Streamlined Math - Physics - AccountingProfessional Tutor: Ultra Streamlined M...
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C -- a 10% return on $6.50div values the stock at $65 ... a 9+% return values closer to $70 :)

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Hey Brad. Thanks for replying. Can you put it in the the proper format so that I can understand how you arrived at your answer?