Question: Problem 13-14 Fuller, Inc., issued $100, 8% preferred stock five years ago. The shares are currently selling for $82.30. Assuming Fuller has to pay flotation

Problem 13-14 Fuller, Inc., issued $100, 8% preferred stock five years

Problem 13-14 Fuller, Inc., issued $100, 8% preferred stock five years ago. The shares are currently selling for $82.30. Assuming Fuller has to pay flotation costs of 12,5%, what is Fuller's cost of preferred stock7 Round the answer to two decimal places

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