Fenway Athletic Club is going to offer to its members preferred stock with a par value of $100
and an annual dividend rate of 7?%. If a member wants the following? returns, what price should he or she be willing to? pay?
a. Theo wants a 8?% return.
If a member wants the following? returns, what price should he or she be willing to? pay?
a. Theo wants a 8?% return. Price
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