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A firm's preferred stock has a par value of PHP 50 per share and a dividend of 5% pa- it was able to sell each

A firm's preferred stock has a par value of PHP 50 per share and a dividend of 5% pa- it was able to sell each share for PHP 47 . Additionally, the firm paid flotation costs of PHP 4 per share. Find the cost of the security. 5.005 5.32% 5.47 5.81

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