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eBook Earley Corporation issued perpetual preferred stock with a 9% annual dividend. The stock currently yields 8%, and its par value is $100. Round your

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eBook Earley Corporation issued perpetual preferred stock with a 9% annual dividend. The stock currently yields 8%, and its par value is $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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