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Leaf has preferred stock selling for 97.0 percent of par that pays a 10.0 percent annual coupon. What would be Leaf's component cost of preferred

Leaf has preferred stock selling for 97.0 percent of par that pays a 10.0 percent annual coupon. What would be Leaf's component cost of preferred stock?

5.16%

10.31%

9.70%

10.00%

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