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1. New York Deli has 7% preferred stock outstanding that sells for $34 a share. THis stock was originally issued at $45 per share. What
1. New York Deli has 7% preferred stock outstanding that sells for $34 a share. THis stock was originally issued at $45 per share. What is the cost of preferred stock?
A. 13.68
B. 14.00
C. 18.29
D. 20.59
E. 20.80
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