71. A company’s $100 par value preferred stock with a dividend rate of 9.5% per year is currently
priced at $103.26 per share. The company's earnings are expected to grow at an annual rate of
5% for the foreseeable future. The cost of the company’s preferred stock is closest to:
A. 9.2%.
B. 9.5%.
C. 9.7%.
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