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Everything is the same except: Pays $3, and price of $60 Wilhelmi Corporation has preferred stock outstanding. Each share of the preferred stock pays $4.20

Everything is the same except: Pays $3, and price of $60

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Wilhelmi Corporation has preferred stock outstanding. Each share of the preferred stock pays $4.20 and has a market price of $40 per share. What is the cost of the preferred stock

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