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24. The Mid Penn Bank (MPB) has an issue of preferred stock with a $7 stated annual dividend that just sold for $90 per share.

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24. The Mid Penn Bank (MPB) has an issue of preferred stock with a $7 stated annual dividend that just sold for $90 per share. What is the MPB's cost of preferred stock? 7.37% b. 9.37% 7.78% d. a. C. 8.54%

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