Jensen's Travel Agency has a 7 percent preferred stock outstanding that is currently selling for $46 a share. The market rate of return is 10 percent and the firm's tax rate is 33 percent. What is Jensen's cost of preferred stock?
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Jensen's Travel Agency has a 7 percent preferred stock outstanding that is currently selling for $46 a share. The market rate of return is 10 percent and the firm's tax rate is 33 percent. What is Jensen's cost of preferred stock?
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