Corporations preferred stock pays an annual dividend of $9.00 per share. When issued, the shares...
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Finance
Corporations preferred stock pays an annual dividend of $9.00 per share. When issued, the shares sold for their par value of $100 per share. What is the cost of preferred stock if the current price is $128.50 per share?
Select one:
a. 7.0%
b. 12.0%
c. 5.8%
d. 7.5%
e. 9.0%
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