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Mercury Corp. is selling preferred stock for RM19.20 a share. After issuance expenses or costs, the company earns RM18.40. The stock pays a RM2.21 per

Mercury Corp. is selling preferred stock for RM19.20 a share. After issuance expenses or costs, the company earns RM18.40. The stock pays a RM2.21 per share annual dividend. What is the company's expense or cost of preferred stock?

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