Problem $14-03$

What should be the prices of the following preferred stocks if comparable securities yield $8$ percent? Use Appendix B and Appendix D to answer the questions. Round your answers to the nearest cent.

MN$,$ Inc., $$9$ preferred $($$$130$ par$)$

$

CH$,$ Inc., $$9$ preferred $($$$130$ par$)$ with mandatory retirement after $6$ years

$

What should be the prices of the following preferred stocks if comparable securities yield $12$ percent? Round your answers to the nearest cent.

MN$,$ Inc., $$9$ preferred $($$$130$ par$)$

$

CH$,$ Inc., $$9$ preferred $($$$130$ par$)$ with mandatory retirement after $6$ years

$