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A company issues new preference shares to its founders that give 9.2% interest. 10000 Shares are issued at $100 and redeemable after 10 years. The

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A company issues new preference shares to its founders that give 9.2% interest. 10000 Shares are issued at $100 and redeemable after 10 years. The shares sell upon issue for $1025 each. What is the cost of capital for this issue to the company

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