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Holdup Bank has an issue of preferred stock with a $5.55 stated dividend that just sold for $92 per share. What is the bank's cost

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Holdup Bank has an issue of preferred stock with a $5.55 stated dividend that just sold for $92 per share. What is the bank's cost of preferred stock? (Round your answer to 2 decimal places. (e.g., 32.16) Preferred stock

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