What is the bank cost of preferred stock

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Reference no: EM132059416

Sixth Fourth Bank has an issue of preferred stock with a $6.80 stated dividend that just sold for $88 per share.

What is the bank’s cost of preferred stock? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Cost of preferred stock

Reference no: EM132059416

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