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Sunny Industries can issue perpetual preferred stock at a price of $48.50 a share. The issue is expected to pay a constant annual dividend of
Sunny Industries can issue perpetual preferred stock at a price of $48.50 a share. The issue is expected to pay a constant annual dividend of $4.15 a share. They will be required to pay a 5% of the share price to cover the flotation cost. What is the company's cost of preferred stock, kp
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