单选题 The preferred shares of GMZ pay a $ 3.25 dividend. These shares have a beta of 0.50, the risk- free rate is 4% , and the expected return on the market is 9%. What is the value of the preferred shares?

A、

A. $ 34.62.
B、

B. $ 38.24.
C、

C. $ 50.00.

【正确答案】 C

【答案解析】The value of the perpetuity of dividends is $ 3.25/6.50%=$ 50.