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7. Atlas Electrical Industries plans to issue some $100 par preferred stock with a 11 percent dividend. The stock is selling on the market for

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7. Atlas Electrical Industries plans to issue some $100 par preferred stock with a 11 percent dividend. The stock is selling on the market for $87.00 and AEl must pay flotation cost of five percent of the market price. What is the cost of the preferred stock for AEL (3 Points)

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