On March 15, 2018, Bank of America issued 94,000 shares of 5.375% Fixed-to-Floating Rate Non-Cumulative Preferred Stock,

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On March 15, 2018, Bank of America issued 94,000 shares of 5.375% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series FF for $4.23 billion. Dividends are payable semiannually on or about March 15 and September 15.

a. Assume the stock was issued at face value. What is the face value of each Series FF share?

b. What will be the total dividend for the year ended December 31, 2018, assuming that the number of shares remains unchanged?

Related Book For answer-question

South-Western Federal Taxation 2019 Comprehensive

ISBN: 9781337703017

42th edition

Authors: David M. Maloney, William A. Raabe, William H. Hoffman, James C. Young

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Posted Date: May 11, 2022 04:32 AM

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On March 15, 2018, Bank of America issued 94,000 shares of 5.375% Fixed-to-Floating Rate Non-Cumulative Preferred Stock,

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Answer to Requirement a Given that those Preferred Share are issued at Face Value So ther... View the full answer

South-Western Federal Taxation 2019 Comprehensive

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