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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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