Donnelly and Son pay $8 as the annual dividend on their preferred stoc
Donnelly and Son pay $8 as the annual dividend on their preferred stock. Currently, this stock is selling for $72 a share. What is Donnelly’s cost of preferred stock?
A) 7.78 percent
B) 9.00 percent
C) 9.72 percent
D) 11.11 percent
E) 11.99 percent
ANSWER
D
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