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A company has preferred stock that can be sold for $100 per share. The preferred stock pays an annual dividend $6. The flotation cost is

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A company has preferred stock that can be sold for $100 per share. The preferred stock pays an annual dividend $6. The flotation cost is 5%. Therefore, the cost of preferred stock is: 5.0% 10.0% 6.0% 6.3%%

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