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Jensen's Travel Agency has 11 percent preferred stock outstanding that is currently selling for $57 a share. The market rate of return is 13 percent
Jensen's Travel Agency has 11 percent preferred stock outstanding that is currently selling for $57 a share. The market rate of return is 13 percent and the firm's tax rate is 34 percent. What is Jensen's cost of preferred stock? |
19.30 percent | |
22.81 percent | |
7.26 percent | |
16.40 percent | |
6.56 percent |
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