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step by step solutions please. no excel solutions. debt? 7. Colossus Bank has an issue of preferred stock with a $7 stated dividend that just

image text in transcribedstep by step solutions please. no excel solutions.
debt? 7. Colossus Bank has an issue of preferred stock with a $7 stated dividend that just sold for $80 per share. What is the bank's cost of preferred stock? If the company issued new preferred stock, it would incur a 7% flotation cost. What would be company's cost of new preferred stock

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