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What was the original issue price

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X-Tech Company issued preferred stock many years ago. It carries a fixed dividend of $12.00 per share. With the passage of time, yields have soared from the original 10 percent to 17 percent (yield is the same as required rate of return).

Problem 1: What was the original issue price?

Select one:

a. $110
b. $120
c. $130
d. $140

Reference no: EM132805596

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