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i posted this question before but the answer wasn't correct so please answer it correctly Problem 17-22 (Algo) Floating rate preferred stock [LO17-5] Barnes Air
i posted this question before
Problem 17-22 (Algo) Floating rate preferred stock [LO17-5] Barnes Air Conditioning Incorporated has two classes of preferred stock floating rate preferred stock and straight (narmal) preferred stock. Both issues have a par value of $100. The floating rate preferred stock pays an annual dividend yield of 7 percent, ond the ntraight preferred stock pays 8 percent. Since the issuance of the two securities, interest rates have gone up by 200 percent for each issue. Both securities will pay their year-end dividend today 4. What is the price of the flooting rate preferred stock most likely to be? Note: Do not round intermediate calculations and round your answer to 2 decimal places. b. What is the price of the suaight preferted stock lingly to be? Note: Do not round intermediate cniculations and round your anawer to 2 decimal places but the answer wasn't correct
so please answer it correctly
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