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Please include financial calculator inputs needed, if possible, in solution. Cost of Preferred Stock: Practice Lloyd's Lumberyard has a 9 percent preferred stock outstanding that

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Please include financial calculator inputs needed, if possible, in solution.

Cost of Preferred Stock: Practice Lloyd's Lumberyard has a 9 percent preferred stock outstanding that is currently selling for $54 a share. The market rate of return is 11 percent and the firm's tax rate is 35 percent. What is Lloyd's cost of preferred stock? Answer is: 16.67 percent Note: what info. is relevant

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