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Ten years ago, Inbe Corp. issued $100 par value preferred stock yielding 8%. The preferred stock is now selling for $97 per share. What is

Ten years ago, Inbe Corp. issued $100 par value preferred stock yielding 8%. The preferred stock is now selling for $97 per share. What is the current yield or cost of the preferred stock? (disregard flotation costs)

A. 7.76%

B. 8%

C. 8.25%

D. not enough info

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