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Bloomberg LLC is issued preferred stock many years ago. It carries a fixed dividend of $5 per share. With the passage of time, yields have

Bloomberg LLC is issued preferred stock many years ago. It carries a fixed dividend of $5 per share. With the passage of time, yields have soared from the original 6 percent to 13 percent. If the yield on the Standard & Poors Preferred Stock Index declines, how will the price of the preferred stock be affected?

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