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QUESTION
Adapt Electric Cars has two preferred stock offerings. The first consists of 100,000 shares of Class A preferred which yield 9%.
Adapt Electric Cars has two preferred stock offerings. The first consists of 100,000 shares of Class A preferred which yield 9%. The second consists of 200,000 shares of Class B preferred with a yield of 7.8%. The Class A shares are currently selling at $81 a share and the Class B shares are currently selling at $56 a share. What is the weighted average cost of preferred stock?
