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Skyler Industries' preferred stock currently sells for $48 per share. The stock pays an annual dividend of $3.60 per share. The cost of preferred stock,

Skyler Industries' preferred stock currently sells for $48 per share. The stock pays an annual dividend of $3.60 per share.

The cost of preferred stock, Rp, is ____%.

Margin of error for correct responses: +/- .05(%)

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