Question: 17 4 points A preferred stock with $1,000 par value pays an annual coupon of 11.8% and is currently priced at $908 per share.

17 4 points A preferred stock with $1,000 par value pays an

17 4 points A preferred stock with $1,000 par value pays an annual coupon of 11.8% and is currently priced at $908 per share. The company's cost of preferred stock is closest to: Enter your answer rounded to four decimals. Type your answer...

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