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Carley Corporation Issued perpetual preferred stock with a 10% annual dividend. The stock currently vields 6%, and its par value in $100. Round your answers

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Carley Corporation Issued perpetual preferred stock with a 10% annual dividend. The stock currently vields 6%, and its par value in $100. Round your answers to the nearest cent. a. What is the stock's value? b. Suppose interest rates rise and pull the preferred stock's yield up to 15% What is its new market value

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