ItsMyOption, I see the 1.95% could also be intrepreted two ways. One is that whatever cash that is in safe harbor, will be reinvested in treasury notes to generate additional 1.95% for us. Hence the 75/25 straight througb theory stays intact.
The other intrepretation is that there is a face value on the preferreds and the 1.95% is on top of face value.
Like you, I'm still confused. Good thing probate is ending soon. I dont know if I can wait another year.
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