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42. Calculate the cost of preferred stock from the following information: Selling Price =$116.95/share (before flotation cost), Flotation cost = 5%, Dividend Rate = 10%,
42. Calculate the cost of preferred stock from the following information: Selling Price =$116.95/share (before flotation cost), Flotation cost = 5%, Dividend Rate = 10%, Par=$100 A) 5 percent B) 9 percent C) 10 percent D) 11 percent
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