Question: Chapter 13. Wally's War Duds has a preferred share issue outstanding with a current price of $32.15. The firm is expected to pay a dividend

Chapter 13. Wally's War Duds has a preferred share issue outstanding with a current price of $32.15. The firm is expected to pay a dividend of $2.25 per share a year from today. What is the firm's cost of preferred equity? 7.00% 6.50% 7.50% 8.00%

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