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Norman entertainment corporation recently sold an issue of

Norman Entertainment Corporation recently sold an issue of preferred stock at $45 per share. The dividend is $7.55, and the issuance costs are $4 per share. What is the cost to Norman Entertainment of raising funds with preferred stock?

A.18.41%
B.17.21%
C.15.45%
D.25.01%

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Finance Basics: Norman entertainment corporation recently sold an issue of

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Finance Basics: Norman entertainment corporation recently sold an issue of

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