An analyst gathers the following information about two companies' non-callable, non-convertible perpetual preference shares: | | Preference Share 1 | Preference Share 2 | |---------------------|--------------------|--------------------| | Par value | $100 | $100 | | Required rate of return | 8% | 11% | | Annual dividend per share | $6 | $8 | The value of Preference Share 1 is: | Chartered Financial Analyst Level 1 Quiz - LeetQuiz