The 850 percent preferred stock of ajax unlimited is


The 8.50 percent preferred stock of Ajax Unlimited is selling for $92.30 a share. What is the cost of preferred stock if the risk-free rate is 3.95 percent?

8.27 percent

9.21 percent

13.01 percent

12.40 percent

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Financial Management: The 850 percent preferred stock of ajax unlimited is
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