What is the current value of this preferred stock

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Reference no: EM131047603

North Pole Cruise Lines issued preferred stock many years ago. It carries a fixed dividend of $9 per share. With the passage of time, yields have gone down from the original 10% to 8%.

a. What was the original issue price?

b. What is the current value of this preferred stock?

Reference no: EM131047603

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