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eBook Cost of Preferred Stock Duggins Veterinary Supplies can issue perpetual preferred stock at a price of $50 a share with an annual dividend of

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eBook Cost of Preferred Stock Duggins Veterinary Supplies can issue perpetual preferred stock at a price of $50 a share with an annual dividend of $4.00 a share. Ignoring flotation costs, what is the company's cost of preferred stock, Ips? Round your answer to the nearest whole number

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