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Savers has an issue of preferred stock with a $6.05 stated dividend that just sold for $97 per share. What is the bank's cost of

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Savers has an issue of preferred stock with a $6.05 stated dividend that just sold for $97 per share. What is the bank's cost of preferred stock? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

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