The meredith corporation issued 100 par value preferred, Finance Basics

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The meredith corporation issued 100 par value preferred

Question: The Meredith Corporation issued $100 par value preferred stock 10 years ago. The stock provided an 8 percent yield at the time of issue. The preferred stock is now selling for $75. What is the current yield or cost of preferred stock? (Disregard flotation costs.)

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Finance Basics: The meredith corporation issued 100 par value preferred

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