问题如下图：
选项：
A. 
B. 
C. 
解释：
value为啥等于div/4.9%？
NO.PZ2015122802000162问题如下A Canalife insurancompany hissue of 4.80 percent, $25 pvalue, perpetual, non-convertible, non-callable preferreshares outstanng. The requirerate of return on similissues is 4.49 percent. The intrinsic value of a preferreshare is closest to:A.$25.00.B.$26.73.C.$28.50. is correct.The expecteannuvinis 4.80% × $25 = $1.20. The value of a preferreshare is $1.20/0.0449 = $26.73.考点GGM优先股，类似债券有固定的股息。25是优先股的面值而不是价格，4.8%是优先股的coupon rate而不是发布比例。每一期的分红就是优先股的面值乘以coupon rate。优先股相当于是永续年金，分红不变，g=0。根据GGM，优先股的价值等于以r就可以了。 如题如题如题如题如题
NO.PZ2015122802000162 什么是coupon rate，什么是issue？
NO.PZ2015122802000162 为什么出4.49而不是4.8
$26.75. $28.50. B is correct. The expecteannuvinis 4.80% × $25 = $1.20. The value of a preferreshare is $1.20/0.0449 = $26.73. 老师，请问为什么不能用25*4.49%+25计算？
