NO.PZ2016021706000019
问题如下:
A 5.5% preferred stock with par value of $100 is selling for $75, what's the cost of preferred stock?
选项:
A.5.5%.
B.7.33%.
C.9.5%.
解释:
B is correct.
k = D / P = 5.5%*100 / 75 = 7.33%.
既然是平价发行,为什么面值(100元)和卖价(75元)不一致呢?平价发行的意思是发行价等于债券面值,对吗?