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3. Llewellyn Fineries, Inc. has 10,000,000 shares of Common stock outstanding at a current price of $18 per share. The company just paid a $1.75

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3. Llewellyn Fineries, Inc. has 10,000,000 shares of Common stock outstanding at a current price of $18 per share. The company just paid a $1.75 dividend that is expected to grow at a constant rate of 2.0% for the foreseeable future. The Company also has 500,000 shares of 3.25% Preferred stock, par value $20 per share, outstanding. The current market price per share of this stock is $19.75. Finally, the Company has outstanding a $5,000,000 issue of Senior 3.0% debt, currently priced at $985 with a yield to maturity of 3.15%. Llewellyn Fineries has a marginal tax rate of 21%. Rounded to two decimal places as a percent, the cost of the company's existing Common stock is 4. Rounded to two decimal places as a percent, the cost of the company's Preferred stock is 5. Rounded to two decimal places as a percent, the after-tax cost of the company's debt is 6. Rounded to two decimal places as a percent, the company's weighted average cost of capital is

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