What was the original issue price

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Reference no: EM13282218

Bedford Mattress Co. issued preferred stock many years ago. It carries a fixed dividend of $12 per share. With the passage of time, yields have gone down from the original 11% to 10% (yield is the same as the required rate of return)

a. What was the original issue price?

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

Reference no: EM13282218

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