What should be the prices of the following preferred stocks if comparable securities yield 10 percent? Use Appendix B and Appendix D to answer the questions. Round your answers to the nearest cent.

a. MN, Inc., $7 preferred ($180 par)......$?

b. CH, Inc., $7 preferred ($180 par) with mandatory retirement after 11 years ......$?

appendix B

appendix D

Interest Factors for the Present Value of One Dollar