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The Beaver House Bar and Grill plans to issue preferred stock at a price of $45.00 per share. The annual dividend will be $4.05 per

The Beaver House Bar and Grill plans to issue preferred stock at a price of $45.00 per share. The annual dividend will be $4.05 per share and issuance costs are expected to be $3.00 per share. What is the cost of raising funds with preferred stock for Young?

6.67%

9.64%

9.00%

8.44%

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