Question: Dudley has a preferred share issue outstanding with a current price of $32 56 per share and a par value of $25. The firm is

Dudley has a preferred share issue outstanding with a current price of $32 56 per share and a par value of $25. The firm is expected to pay a dividend or $2.50 per share a year from today. What would be the cost of issuing new shares of preferred equity? (Round your final answer to the nearest percentage) 7.60 10.00 700

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