Multiple Choice
Michael's Inc. 9% preferred stock is currently priced at $124.30. If Michael's wishes to sell some new preferred stock at par, what rate should it assign to the new shares?
A) 6.76%
B) 7.24%
C) 8.05%
D) 9.00%
E) 11.19%
Correct Answer:
Verified
Correct Answer:
Verified
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