Wallace Container Company issued $100 par value preferred stock 10 years ago. The stock provided a 6
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Question:
Wallace Container Company issued $100 par value preferred stock 10 years ago. The stock provided a 6 percent yield at the time of issue. The preferred stock is now selling for $61.
What is the current yield or cost of thepreferred stock? (Disregard flotation costs.)(Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
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