Upstate Bank Has an Issue of Preferred Stock with a $4.80

question 63

Multiple Choice

Upstate Bank has an issue of preferred stock with a $4.80 stated dividend that just sold for $86 a share. What is the bank's cost of preferred stock?

• A) 4.91 percent
• B) 5.58 percent
• C) 6.23 percent
• D) 6.47 percent
• E) 7.32 percent

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