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The preferred stock is now selling for 97 per share what

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Ten years ago, Stigler Company issued $100 par value preferred stock yielding 8 percent. The preferred stock is now selling for $97 per share. What is the current yield or cost of the preferred stock? (Disregard flotation cost)

A) 8.25 %
B) 7.76 %
C) 8 %

Reference no: EM13568761

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