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Problem:

Cost of preferred stock. Kyle is raising funds for his company by selling preferred stock. The preferred stock has a par value of $79 and a dividend rate of 7.8%. The stock is selling for $66.97 in the market.

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Question: What is the cost of preferred stock for Kyle? Note: Please provide step by step solution.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91147759

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