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Dewyco has preferred stock trading at $46.68 per share. The next preferred dividend of $3.70 is due in one year. What is Dewyco's cost of

Dewyco has preferred stock trading at $46.68 per share. The next preferred dividend of $3.70 is due in one year. What is Dewyco's cost of capital for preferred stock? Dewyco's cost of capital for preferred stock is \%. (Round to two decimal places.)

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