Union National Bank has an issue of preferred stock with a $6.20 stated dividend that just sold for $105 per share. What is the bank's cost of preferred stock?

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Union National Bank has an
issue of preferred stock with a
$6.20 stated dividend that just
sold for $105 per share. What
is the bank's cost of preferred
stock?
Transcribed Image Text:Union National Bank has an issue of preferred stock with a $6.20 stated dividend that just sold for $105 per share. What is the bank's cost of preferred stock?
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