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Holdup Bank has an issue of preferred stock with a $7 stated dividend that just sold for $86 per share. What is the bank's cost

Holdup Bank has an issue of preferred stock with a $7 stated dividend that just sold for $86 per share. What is the bank's cost of preferred stock?

rev: 09_20_2012

7.00%

8.47%

7.81%

8.14%

8.55%

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