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Preferred stock value (LO4) Bedford Mattress Company issued preferred stock many years ago. It carries a fixed dividend of $8 per share. With the passage
Preferred stock value (LO4) Bedford Mattress Company issued preferred stock many years ago. It carries a fixed dividend of $8 per share. With the passage of time, yields have gone down from the original 8 percent to 6 percent (yield is the same as required rate of return). a. What was the original issue price? b. What is the current value of this preferred stock
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