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D has a preferred share issue outstanding with a current price of 26.57 per share and par value of 25, the firm is expected to

D has a preferred share issue outstanding with a current price of 26.57 per share and par value of 25, the firm is expected to pay a dividend of 1.86 per share a year from today. what would be the cost of issuing new shares of preferred equity/(round final answer to the nearest percentage)

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