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Torch industries can issue perpetual preferred stock at a price of $75.00 a share. The stock would pay a constant annual dividend of $6.50 a

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Torch industries can issue perpetual preferred stock at a price of $75.00 a share. The stock would pay a constant annual dividend of $6.50 a sha What is the company's cost of preferred stock, rp ? Round your answer to two decimal places. Continue without saving

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