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Advanced BioGreen plans to issue some $25 par preferred stock with a 3% dividend. The stock is selling on the market for $27.26, and Advanced

Advanced BioGreen plans to issue some $25 par preferred stock with a 3% dividend. The stock is selling on the market for $27.26, and Advanced BioGreen must pay flotation costs of 3% of the issue price. What is the cost of the preferred stock?

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