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What was the original issue price

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Reference no: EM132741728

Bedford Mattress Company issued preferred stock many years ago. It carries a fixed dividend of $8 per share. With the passage of time, yields have gone down from the original 8 percent to 6 percent (yield is the same as required rate of return).

Problem a. What was the original issue price?

Problem b. What is the current value of this preferred stock?

Reference no: EM132741728

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