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Kims Specialized Cruises plans to issue preferred stock at a price of $20 per share....

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Accounting

Kims Specialized Cruises plans to issue preferred stock at a price of $20 per share. The par value is also $20 per share. The annual dividend will be $2 per share, and issuance costs are expected to be $1.5 per share. What is the cost of raising funds with preferred stock for Kim? Group of answer choices 10.81% 8.72% 9.76% 8.00%

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