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Question 6 3 pts A firm's preferred stock offers a 3% dividend. The current price is $106 per share. The par value is $100 per

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Question 6 3 pts A firm's preferred stock offers a 3% dividend. The current price is $106 per share. The par value is $100 per share. What is the firm's cost of preferred stock? Enter the answer as a whole number with 2 decimal places and without signs. For example, if the answer is $20.16, enter 20.16. If the answer is .1075 or 10.75%, enter 10.75

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