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QUESTION
The preferred stock of Texas Southern Power Company sells $45 and pays $7 in dividends. The net price of the security after insurance costs is $39.
The preferred stock of Texas Southern Power Company sells $45 and pays $7 in dividends. The net price of the security after insurance costs is $39.15. What is the cost of capital for the preferred stock?
The cost of capital for the preferred stock is _____%
