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Youngs Specialized Cruises plans to issue preferred stock at a price of $64 per share. The annual dividend will be $4.48 per share and issuance

Young’s Specialized Cruises plans to issue preferred stock at a price of $64 per share. The annual dividend will be $4.48 per share and issuance costs are expected to be $1.00 per share. What is the cost of raising funds with preferred stock for Young?


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