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6. Job Cart Inc. has a preferred stock paying a 7% dividend on a $100 par value. The company issues new preferred stock, and the
6. Job Cart Inc. has a preferred stock paying a 7% dividend on a $100 par value. The company issues new preferred stock, and the flotation cost will be 8% of the current price of $95.74. What is the cost of preferred stock?
A).95%
B)7.61%
C)7.31%
D)6.77%
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