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What is the cost of a preferred stock with a par value of $50 with 10% dividend rate? The current price is $40 and the

What is the cost of a preferred stock with a par value of $50 with 10% dividend rate? The current price is $40 and the flotation cost is 10%.

a. 13.89%

b. 13.68%

c. 13.41%

d. 13.20%

e. 12.84%

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