Jones Brothers Clothing just issued preferred stock with a face value equal to $80 that pays a 10 percent annual dividend If the stock currently yields 8 percent, what is its market value ...

Jones Brothers Clothing just issued preferred stock with a face value equal to $80 that pays a

Question:

Jones Brothers Clothing just issued preferred stock with a equal to $80 that pays a 10 percent annual dividend. If the stock currently yields 8 percent, what is its market value?

Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...