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Your firm plans to issue preferred stock with a par value of $100 per share. Assuming...

Your firm plans to issue preferred stock with a par value of $100 per share. Assuming the preferred has a dividend rate of 7.95% and is expected to sell for $105.55 per share, what is the cost of preferred stock financing? Round your answer to 2 decimal places in percentage terms.

Please give me instructions how to calculate this with a TI-BAII

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