J&J Foods wants to issue some 7 percent preferred stock that has a stated liquidating value of $100 a share.The company has determined that stocks with similar characteristics provide a 12.8 percent rate of return.What should the offer price be?
A)$37.26
B)$41.38
C)$48.20
D)$54.69
E)$62.60

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The Answer of J&J Foods wants to issue some 7 percent preferred stock that has a stated liquidating value of $100 a share.The company has determined that stocks with similar characteristics provide a 12.8 percent rate of return.What should the offer price be?
A)$37.26
B)$41.38
C)$48.20
D)$54.69
E)$62.60

J&J Foods Wants to Issue Some 7 Percent Preferred Stock