Sinking fund for outstanding preferred stock issue

Reference no: EM1371229

Acme make a decision to establish a sinking fund for its outstanding preferred stock issue. $975318642 represents the value of the issue that will be retired in 26 years. At the beginning of each of these 26 years, Acme will deposit an equal amount into an account that earns B% (B = 7) What is the value of this periodic deposit?

Reference no: EM1371229

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