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ABC Ltd. issues 20,000, 8% preference shares of Rs. 100 each at a premium of 5% redeemable after 8 years at par. The cost of

ABC Ltd. issues 20,000, 8% preference shares of Rs. 100 each at a premium of 5%

redeemable after 8 years at par. The cost of issue is Rs. 2 per share. Calculate the cost of

preference share capital.

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