Ezzell Corporation issued perpetual preferred stock with a 8% annual dividend. The stock currently yields 7.8%, and

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Ezzell Corporation issued perpetual preferred stock with a 8% annual dividend. The stock currently yields 7.8%, and its par value is $55. Suppose interest rates rise and pull the preferred stock's yield up to 10.5%. What is its new market value?

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Fundamentals of Financial Management

ISBN: 978-1305635937

Concise 9th Edition

Authors: Eugene F. Brigham

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Posted Date: Mar 05, 2024 05:26 AM

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Ezzell Corporation issued perpetual preferred stock with a 8% annual dividend. The stock currently yields 7.8%, and

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Fundamentals of Financial Management

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