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P9-0 (Similar to) Cost of preferred stock Determine the cost for the following preferred stock. (Click on the icon here in order to copy the

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P9-0 (Similar to) Cost of preferred stock Determine the cost for the following preferred stock. (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Par value $75.00 Sale price $75.75 Flotation cost $5.25 Annual dividend 8% The cost of preferred stock is %. (Round to two decimal places.)

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