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Norman entertainment of raising funds

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Reference no: EM131101063

Norman Entertainment Corporation recently sold an issue of preferred stock at $45 per share. The dividend is $7.55, and the issuance costs are $4 per share. What is the cost to Norman Entertainment of raising funds with preferred stock?

A.18.41%
B.17.21%
C.15.45%
D.25.01%

Reference no: EM131101063

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