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Intro A company's perpetual preferred stock pays a $1.2 annual dividend and currently sells for $16 per share. If the company were to sell new

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Intro A company's perpetual preferred stock pays a \$1.2 annual dividend and currently sells for $16 per share. If the company were to sell new preferred stock, it would incur a flotation cost of 5% of the issue price. Part 1 Attempt 1/10 for 10pts. What is the firm's cost of preferred stock

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