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Question 22 4 pts A company's perpetual preferred stock pays a $7 annual dividend per share, and it currently sells for $70 per share. If

Question 22 4 pts A company's perpetual preferred stock pays a $7 annual dividend per share, and it currently sells for $70 per share. If the company were to sell a new preferred issue, what is a good estimate of the cost of that capital? Ignore flotation costs. 0% 10% 40% 7% 20%

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