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Ikechukwu Corporation has preferred stock that pays a quarterly dividend of 8%. Investors yield on this stock is currently 12%, assume the preferred stock has

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Ikechukwu Corporation has preferred stock that pays a quarterly dividend of 8%. Investors yield on this stock is currently 12%, assume the preferred stock has a par value of $100. What is the market value of Ikechukwu's preferred stock? a. $150 per share b. $12 per share O c. $1,250 per share d. $66.67 per share O e. $112 per share

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