Question: What is the stock's value? Round your answer to two decimal places. Suppose interest rates rise and pull the preferred stock's yield up to 12%.

What is the stock's value? Round your answer to two decimal

What is the stock's value? Round your answer to two decimal places.

Suppose interest rates rise and pull the preferred stock's yield up to 12%. What is its new market value? Round your answer to two decimal places.

places.Suppose interest rates rise and pull the preferred stock's yield up to

Problem 9-8 Preferred stock valuation Earley Corporation issued perpetual preferred stock with a 9% annual dividend. The stock currently yields 7%, and its par value is $100. a. What is the stock's value? Round your answer to two decimal places. $ b. Suppose interest rates rise and pull the preferred stock's yield up to 12%. What is its new market value? Round your answer to two decimal places. $

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