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Assume a share of preferred stock offers an annual dividend of $2.50, and is currently selling for $57. What is this firm's cost of preferred

Assume a share of preferred stock offers an annual dividend of $2.50, and is currently selling for $57. What is this firm's cost of preferred stock?

Enter your answer as a percentage, without the percentage sign ('%'), rounded to 2 decimals. For example, if your answer is 0.07789, that's 7.79%, so just enter 7.79

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