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The preferred stock of X Motors pays a dividend of $4 per year in perpetuity and trades at a price of $30 per share. What

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The preferred stock of X Motors pays a dividend of $4 per year in perpetuity and trades at a price of $30 per share. What is the cost of preferred stock for X Motors? 18.50% None of the given choices 13.33% 7.50%

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