Ezzell corporation issued perpetual preferred stock with a, Financial Management

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Ezzell corporation issued perpetual preferred stock with a

Preferred stock valuation

Ezzell Corporation issued perpetual preferred stock with a 8% annual dividend. The stock currently yields 10%, and its par value is $100.

What is the stock's value? Round your answer to two decimal places.

Suppose interest rates rise and pull the preferred stock's yield up to 13%. What would be its new market value? Round your answer to two decimal places.

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Financial Management: Ezzell corporation issued perpetual preferred stock with a

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Financial Management: Ezzell corporation issued perpetual preferred stock with a

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