Question: Question 48 (0.2 points) Melba's Toast has a preferred share issue outstanding with a current price of $19.50. The firm is expected to pay a

Question 48 (0.2 points) Melba's Toast has a preferred share issue outstanding with a current price of $19.50. The firm is expected to pay a dividend of $2.34 per share a year from today. What is the firm's cost of preferred equity? 11.75% 12.00% O 11.50% 12.25%

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