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The preferred stock for company ABC is currently selling for $30.11. The preferred stock pays a dividend of $1.08. What company ABC's cost of preferred

The preferred stock for company ABC is currently selling for $30.11. The preferred stock pays a dividend of $1.08.

What company ABC's cost of preferred stock (rP)?

Enter you answer as a decimal with a leading zero and 4 places of precision (i.e. 0.1234)

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