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Holdup Bank Has an Issue of Preferred Stock with a Stated

Question 59

Multiple Choice

Holdup Bank has an issue of preferred stock with a stated dividend of $7 that just sold for $87 per share. What is the bank's cost of preferred?

A) 7.00 percent
B) 7.64 percent
C) 8.39 percent
D) 8.05 percent
E) 7.54 percent

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