Traditional Bank Has an Issue of Preferred Stock with an Annual

question 50

Multiple Choice

Traditional Bank has an issue of preferred stock with an annual dividend of $7.50 that just sold for $62 a share.What is the bank's cost of preferred stock?

• A)12.91 percent
• B)12.10 percent
• C)11.23 percent
• D)13.47 percent
• E)11.32 percent

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