Earley corporation issued perpetual preferred stock with a, Financial Management

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Earley corporation issued perpetual preferred stock with a

Earley Corporation issued perpetual preferred stock with a 10% annual dividend. The stock currently yields 7%, and its par value is $100. What is the stock's value? Round your answer to two decimal places.Suppose interest rates rise and pull the preferred stock's yield up to 14%. What is its new market value? Round your answer to two decimal places.

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Financial Management: Earley corporation issued perpetual preferred stock with a

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Financial Management: Earley corporation issued perpetual preferred stock with a

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