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↑ Cost of preferred stock Taylor Systems has just issued preferred stock. The stock has a 10% annual dividend and a $75 par value and was sold at $80.25 per share. In addition, flotation costs of $5.25 per share were paid. Calculate the cost of the preferred stock. The cost of the preferred stock is% (Round to two decimal places.) GOD

↑ Cost of preferred stock Taylor Systems has just issued preferred stock. The stock has a 10% annual dividend and a $75 par value and was sold at $80.25 per share. In addition, flotation costs of $5.25 per share were paid. Calculate the cost of the preferred stock. The cost of the preferred stock is% (Round to two decimal places.) GOD

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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↑ Cost of preferred stock Taylor Systems has just issued preferred stock. The stock has a 10% annual dividend and a $75 par value and was sold at $80.25 per share. In addition, flotation costs of $5.25 per share were paid. Calculate the cost of the preferred stock. The cost of the preferred stock is% (Round to two decimal places.)
Transcribed Image Text:↑ Cost of preferred stock Taylor Systems has just issued preferred stock. The stock has a 10% annual dividend and a $75 par value and was sold at $80.25 per share. In addition, flotation costs of $5.25 per share were paid. Calculate the cost of the preferred stock. The cost of the preferred stock is% (Round to two decimal places.)
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