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A company's perpetual preferred stock pays a $1.39 annual dividend and currently sells for $15 per share. If the company were to sell new preferred

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A company's perpetual preferred stock pays a $1.39 annual dividend and currently sells for $15 per share. If the company were to sell new preferred stock, it would incur a flotation cost of 5% of the issue price. Part 1 Attempt 1/5 for 10 pts. What is the firm's cost of preferred stock

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