Ten years ago. Stigler Company issued $100 par value preferred stock yielding 6%. The preferred stock is now selling for $102 per share. What is the approximate current yield or cost of the preferred...

Cost of preferred stock

Extracted text: Ten years ago. Stigler Company issued $100 par value preferred stock yielding 6%. The preferred stock is now selling for $102 per share. What is the approximate current yield or cost of the preferred stock? (Disregard notation costs.) A) 8% B) 7.76% C) 5.9% D) There is not enough information to answer the question.