The preferred stock of a company is currently trading at, Finance Basics

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The preferred stock of a company is currently trading at

Question: The preferred stock of a company is currently trading at $100 while the same company's common stock is trading at $30? If the preferred stock dividend is $7 per year, then what is this company's cost of preferred stock? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

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