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What is the cost of preferred stock if Dividend Rate: 9 % Par Value: 1 0 0 $ Price of Preferred Stock: 1 1 7

What is the cost of preferred stock if
Dividend Rate: 9%
Par Value: 100$
Price of Preferred Stock: 117$
Flotation Cost: 5%
Pick one of the following:
0.010
0.081
0.088

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