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question archive Johnson Cement Company has a 10 percent preferred stock issue outstanding, with each share having a $200 face value

Johnson Cement Company has a 10 percent preferred stock issue outstanding, with each share having a $200 face value

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Johnson Cement Company has a 10 percent preferred stock issue outstanding, with each share having a $200 face value. Currently, the yield is 12 percent. What is the market price per share? If interest rates in general should rise so that the required return becomes 15 percent, what will happen to the market price per share

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