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1.) A 10?year, 6.2?percent coupon bond is selling for 102.6 percent of par. What is the bond's market yield if it makes semi?annual coupon payments?
2.) Oriole Mechanical Ltd.'s preferred shares have a par value of $50, a dividend rate of 9.0 percent, and trade at a price of $75. Waterway Inc.'s preferred shares have a par value of $60, have a dividend rate of 5.0 percent, and trade at a price of $40.
Which company's preferred stock is riskier? What is each required rate of return?
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