[Solved] A preferred stock with $1,000 par value p

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A preferred stock with $1,000 par value pays an annual coupon of 8.8% and is currently priced at $923 per share. The company's cost of

A preferred stock with $1,000 par value pays an annual coupon of 8.8% and is currently priced at $923 per share. The company's cost of preferred stock is closest to: Enter your answer rounded to four decimals

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