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A novel loss function to train a net of K single-layer perceptrons (KSLPs) is suggested, where pairwise misclassification cost matrix can be incorporated directly. The complexity of the network remains the same; a gradient's computation of the loss function does not necessitate additional calculations. Minimization of the loss requires a smaller number of training epochs. Efficacy of cost-sensitive methods depends on the cost matrix, the overlap of the pattern classes, and sample sizes. Experiments with real-world pattern recognition (PR) tasks show that employment of novel loss function usually outperforms three benchmark methods.