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XYZLtd is planning to issue preference shares with a par value of $85 paying 4% dividends. They will incur a 10% flotation cost. Calculate the

XYZLtd is planning to issue preference shares with a par value of $85 paying 4% dividends. They will incur a 10% flotation cost. Calculate the cost of preference shares given that they will be sold for $65

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