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What is the current value of a x-tech preferred share

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Reference no: EM132767540

X-Tech issued preferred shares many years ago. They carry a fixed dividend of $8 per share. With the passage of time, yields have soared from the original 5 percent to 11 percent (yield is the same as required rate of return).

Problem 1: What was the original issue price? (Round the final answer to 2 decimal places.)

Problem 2: What is the current value of a X-Tech preferred share?

Reference no: EM132767540

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