Holdup bank has an issue of preferred stock with a 455, Finance Basics

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Holdup bank has an issue of preferred stock with a 455

Question: Holdup Bank has an issue of preferred stock with a $4.55 stated dividend that just sold for $82 per share. What is the bank's cost of preferred stock? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

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Finance Basics: Holdup bank has an issue of preferred stock with a 455

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Finance Basics: Holdup bank has an issue of preferred stock with a 455

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