Holdup bank has an issue of preferred stock with a 9 stated


Holdup Bank has an issue of preferred stock with a $9 stated dividend that just sold for $85 per share. What is the bank's cost of preferred stock?

a) 9.00%

b) 10.16%

c) 11.12%

d) 11.01%

e) 10.59%

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Financial Management: Holdup bank has an issue of preferred stock with a 9 stated
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