The Meredith Company issued $100 par value preferred shares 10 years ago. The shares provided an 8
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The Meredith Company issued $100 par value preferred shares 10 years ago. The shares provided an 8 percent yield at the time of issue. Each preferred share is now selling for $75. What is the current yield or cost of preferred stock? (Disregard flotation costs.)
Par ValuePar value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...
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Related Book For 
Foundations of Financial Management
ISBN: 978-1259024979
10th Canadian edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
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