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Holdup Bank has an issue of preferred stock with a $5 stated dividend that just sold for $89 per share. What is the bank's cost

Holdup Bank has an issue of preferred stock with a $5 stated dividend that just sold for $89 per share. What is the bank's cost of preferred stock?

5.84%

5.90%

5.62%

5.39%

5.00%

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