Question: Attempts Keep the Highest / 1 2. Problem 10.02 (Cost of Preferred Stock) ebook Torch Industries can issue perpetual preferred stock at a price of

Attempts Keep the Highest / 1 2. Problem 10.02 (Cost of Preferred Stock) ebook Torch Industries can issue perpetual preferred stock at a price of $69.50 a share. The stock would pay a constant annual dividend of $7.00 a share. What is the company's cost of preferred stock. Round your answer to two omal places

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