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A company can sell new preferred stock at $98 per share with an annual dividend of $7.2 per share. However, the company must pay a

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A company can sell new preferred stock at $98 per share with an annual dividend of $7.2 per share. However, the company must pay a $8 flotation cost of the preferred stock price in order to sell it. What is the cost of using the new preferred stock? 6,8% 7.35% 8% 95

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