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Intro Snowglobe Inc. has preferred stock outstanding that promises to pay a fixed annual dividend of $0.76 forever. The stock currently trades for $7.02. Attempt

Intro

Snowglobe Inc. has preferred stock outstanding that promises to pay a fixed annual dividend of $0.76 forever. The stock currently trades for $7.02.

Attempt 1/8 for 10 pts.

Part 1

What is the cost of preferred stock?

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