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12. Jensen's Travel Agency has 9 percent preferred stock outstanding that is currently selling for $40 a share. The market rate of return is 8
12. Jensen's Travel Agency has 9 percent preferred stock outstanding that is currently selling for $40 a share. The market rate of return is 8 percent and the firm's tax rate is 34 percent. What is Jensen's cost of preferred stock? 5.94 percent 20.00 percent 7.65 percent 15.30 percent 22.50 percent
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