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Lutsuon A Company's perpetual preferred stock sells for $108 per share, and it pays a $10 annual dividend. If the company were to sell a

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Lutsuon A Company's perpetual preferred stock sells for $108 per share, and it pays a $10 annual dividend. If the company were to sell a new preferred issue. It would incur a $5 flotation cost per share paid by investors. What is the company's cost of preferred stock for use in calculating the WACC? 9.71% 9.58% 9.75% 10.22%

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