What should be the price of preferred stock

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Reference no: EM131451139

Preferred stock B has a $95 annual dividend, $1,000 par value, and matures after twenty-five years. If comparable yields are 9 percent, what should be the price of preferred B stock?

Hint: can use financial calculator to solve. Round to the nearest whole dollar. Just type the number, no commas, no dollar signs.

Reference no: EM131451139

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