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I need an ESSAY, 350-500 words on: Toto and Associates' preferred stock is selling for $27.50 a share. The firm nets $25.60 after issuance costs.

I need an ESSAY, 350-500 words on: Toto and Associates' preferred stock is selling for $27.50 a share. The firm nets $25.60 after issuance costs. The stock pays an annual dividend of $3.00 per share. What is the cost of existing, and new, preferred stock respectively?

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