The stock currently yields 7 and its par value is 100 what


PREFERRED STOCK VALUATION Earley Corporation issued perpetual preferred stock with a 12% 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 15%. What is its new market value? Round your answer to two decimal places. $

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Financial Management: The stock currently yields 7 and its par value is 100 what
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