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14. (Cost of Preferred Stock) Your firm is planning to issue preferred stock. The stock sells for Rs120; however, if new stock is issued, the

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14. (Cost of Preferred Stock) Your firm is planning to issue preferred stock. The stock sells for Rs120; however, if new stock is issued, the company would receive only Rs95. The par value of the stock is Rs100 and the dividend rate is 12 percent. What is the cost of capital for the stock to your firm

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