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Given the following preferred stock information for Huntington Power Co., find the cost of preferred stock. Preferred Stock: selling for $98. Floatation cost is $1

Given the following preferred stock information for Huntington Power Co., find the cost of preferred stock.

Preferred Stock: selling for $98. Floatation cost is $1 and dividends are $7 a share.

	a.	7.22%
	b.	5.18%
	c.	5.89%
	d.	6.25%

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