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6 )ExxonMobil Corporation has preferred stock that pays a $7.65 dividend per share each year. If the stock currently sells for $88.64 and the company

6 )ExxonMobil Corporation has preferred stock that pays a $7.65 dividend per share each year. If the stock currently sells for $88.64 and the company would incur issuing costs of 4 percent, what is ExxonMobils component cost of preferred stock?

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