McKerley Corp. has preferred stock outstanding that will pay an annual dividend of $3.85 per share with the first dividend exactly 15 years from today. If the required return is 3.63 percent, what is the current price of the stock?

Which of the following best explains why online retail companies have an advantage over regular stores? a. their employees make less money because they mostly perform unskilled tasks. b. they are able to keep distribution costs low by negotiating deals with shipping companies. c. their transactions require expensive state-of-the-art technological devices. d. they have a larger number of potential customers because people anywhere can buy from them.