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Expected cost of the preference shares

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Anzac Corporation is looking at issuing new preference shares at $62.1 per share. The shares will pay $4.95 in dividends per year and issue costs are expected to be 3.2% of the issue price. What will be the expected cost of the preference shares? (Please show answer to 3 decimal places. For example 9.8% should be shown as 0.098)

Reference no: EM132506081

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