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1. Atlantic Northern Inc. pays an annual dividend rate of 8.00% on its preferred stock that currently returns 10.72% and has a par value of $100.00. What is the value of Atlantic Northern Inc.'s stock?
a. $111.94
b. $89.56
c. $74.63
d. $100.00
2. Suppose, due to high inflation, interest rates rise and pull the preferred stock's yeild to 13.94%. The value of the preferred stock will _________ (increase or decrease)?
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