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Travel Agency has 9 percent preferred stock outstanding that is currently selling for $32

 Travel Agency has 9 percent preferred stock outstanding that is currently selling for $32 a share. The market rate of return is 13 percent and the firm's tax rate is 34 percent. What is Jensen's cost of preferred stock?

28.13 percent

9.56 percent

5.94 percent

40.63 percent

7.53 percent

Dec 05 2019 View more View Less

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