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Firm XYZ issues a constant amount of preferred dividends at an annual value of $7. Its current preferred stock price is $30. What is the

"Firm XYZ issues a constant amount of preferred dividends at an annual value of $7. Its current preferred stock price is $30. What is the cost of preferred equity for Firm XYZ? Express your answers in strictly numerical terms. For example, if the answer is 5%, write 0.05"

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