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MicroHard just recently issued 4 million of preferred shares at a price of $50 per share. These shares promise to pay annual dividends of $3.55

MicroHard just recently issued 4 million of preferred shares at a price of $50 per share. These shares promise to pay annual dividends of $3.55 a share and issuance costs were S1.75 a share. What is MicroHard's cost of preferred stock

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