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Diggin Tools just issued new preferred stock, which sold for $62.02 in the stock markets. Holders of the stock will receive an annual dividend equal
Diggin Tools just issued new preferred stock, which sold for $62.02 in the stock markets. Holders of the stock will receive an annual dividend equal to $9.35. What is Diggin's cost of preferred stock, rps? Answer in decimal format to four decimal places.
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