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What is the issuance cost of preferred stock with the following characteristics: 10% preferred stock...

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Finance

What is the issuance cost of preferred stock with the following characteristics: 10% preferred stock that is expected to sell for its $ 80-per-share value. The cost of issuing and selling the stock is expected to be $10 per share.

a) 11.4%

b) 10.0%

c) 12.5%

d) 8.0%

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