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5. Lee Corp. also has some perpetual preferred stock outstanding that pay a fixed (annual) dividend of $9 per share. Each of these shares has
5. Lee Corp. also has some perpetual preferred stock outstanding that pay a fixed (annual) dividend of $9 per share. Each of these shares has a par value of $75, and is currently trading for $108. Based in this information, estimate Lees marginal cost of preferred equity. (5 points)
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