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Grill Works has 6 percent preferred stock outstanding that is currently selling for $49 a...

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Grill Works has 6 percent preferred stock outstanding that is currently selling for $49 a share. The market rate of return is 14 percent and the tax rate is 21 percent. What is the cost of preferred stock if its stated value is $100 per share? Multiple Choice 12.77 percent 12.67 percent 12.24 percent 12.29 percent 12.54 percent

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