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ebook Torch Industries can issue perpetual preferred stock at a price of 558.50 a share. The stock would pay a constant anual dividend of $7.00

ebook Torch Industries can issue perpetual preferred stock at a price of 558.50 a share. The stock would pay a constant anual dividend of $7.00 a share. What is the company's cost of preferred stock, to Round your awer to two decimal places

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