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14-11 (similar to) Question Help (Cost of preferred stock) The preferred stock of Walter Industries Inc currently sells for $35 87 a share and pays

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14-11 (similar to) Question Help (Cost of preferred stock) The preferred stock of Walter Industries Inc currently sells for $35 87 a share and pays $2.44 in dividends annually What is the firm's cost of capital for the preferred stock? The firm's cost of capital for the preferred stock is % (Round to two decimal places)

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