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Question 1 1 pts LUVFINANCE, Inc. is estimating its WACC. The firm could sell, at par, $100 preferred stock that pays a 10 percent annual

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Question 1 1 pts LUVFINANCE, Inc. is estimating its WACC. The firm could sell, at par, $100 preferred stock that pays a 10 percent annual dividend and incurs 7.01% flotation costs. What is the cost of new preferred stock financing? Answer in % format to 2 decimal places w/o % sign

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