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Earley Corporation issued perpetual preferred stock with an 8 sib annual dividend. The stock currently yiolds 7 til, and its par value is 5100 .

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Earley Corporation issued perpetual preferred stock with an 8 sib annual dividend. The stock currently yiolds 7 til, and its par value is 5100 . Round your answerti to the nearect cent. a. What as the stock's value? 5 b. Subbose interest rates rise and pull the preferred stock's yield up to 11%. What is its new market value? 5

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