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FINA, Inc. wants to issue preferred stocks and hires UBS. UBS advises that $12 dividend paying stocks of FINA will sell for $110. FINA is

FINA, Inc. wants to issue preferred stocks and hires UBS. UBS advises that $12 dividend paying stocks of FINA will sell for $110. FINA is subject to 30% tax rate and UBS charges $10/share for its services. What is the cost of preferred stocks for FINA, Inc.?

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