Question: Diana Ltd. has a preferred share issue outstanding with a current price of $38.89. The firm last paid a dividend on the issue of $3.50

Diana Ltd. has a preferred share issue outstanding with a current price of $38.89. The firm last paid a dividend on the issue of $3.50 per share. What is the firm's cost of preferred equity? Round your final answer to the nearest percentage. Question 27 options: 9% 7% 10% 8%

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