calcualte preferred stock value

Hi, I saw two formulas for calculating preferred stock Formula I p0 = d1/k Formula II p0 = d1/k-g If growth is not mentioned, do I assume as 0 and user formula I?

Preferred stock always (I guess) has a fixed dividend. That means use II with g = 0 or use I.

D1/p= can only be used in case of nonconvertible, noncalleble preffered stock, that has fixed dividend rate and no maturity .

And even then it’s mostly useless because valuation of preferred stock depends on credit quality. Preferred stock is really debt that has no claim on anything when the company goes tits up. Preferred stock gets absolutely pillaged when management announces that it is not paying a dividend (the common does too of course).