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Exactly eight (8) years ago, ABC, Inc. issued preferred stock that sold for $900. If the discount rate on that issue is lower today that
Exactly eight (8) years ago, ABC, Inc. issued preferred stock that sold for $900. If the discount rate on that issue is lower today that it was 8 years ago, the price of ABCs preferred stock today is:
a) Higher than $900
b) Lower than $900
c) $900
d) There is not enough information provided to answer this question.
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