Giant has preferred stock selling for 1233 percent of par


Giant has preferred stock selling for 123.3 percent of par that pays a 11.7 percent annual coupon. What would be Giant's component cost of preferred stock?

A) 4.75%   B) 9.49%   C) 14.43% D) 11.70%

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Financial Management: Giant has preferred stock selling for 1233 percent of par
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