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Cost of preferred stock Taylor Systems has just issued preferred stock. The stock has a 11% annual dividend and a $120 par value and was sold at $124.80 per share. In addition, flotation costs of $9.60 per share were paid. Calculate the cost of the preferred stock. The cost of the preferred stock is %. (Round to two decimal places.)

Cost of preferred stock Taylor Systems has just issued preferred stock. The stock has a 11% annual dividend and a $120 par value and was sold at $124.80 per share. In addition, flotation costs of $9.60 per share were paid. Calculate the cost of the preferred stock. The cost of the preferred stock is %. (Round to two decimal places.)

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Cost of preferred stock Taylor Systems has just issued preferred stock. The stock has a 11% annual dividend and a $120 par value and was sold at $124.80 per share. In addition, flotation costs of $9.60 per share were paid. Calculate the cost of the preferred stock. The cost of the preferred stock is %. (Round to two decimal places.) ES eText dia Librai al Calculat r Resource Enter your answer in the answer box and then click Check Answer. nic Study es Check Answer Clear All All parts showing nunication Tools This course (Introduction to Financre (FIN-101-D02I Distance Snring 20211 is hased onn 7utter/Smart: Princinles of Managerial Finance Rrief Re Type here to search
Transcribed Image Text:Cost of preferred stock Taylor Systems has just issued preferred stock. The stock has a 11% annual dividend and a $120 par value and was sold at $124.80 per share. In addition, flotation costs of $9.60 per share were paid. Calculate the cost of the preferred stock. The cost of the preferred stock is %. (Round to two decimal places.) ES eText dia Librai al Calculat r Resource Enter your answer in the answer box and then click Check Answer. nic Study es Check Answer Clear All All parts showing nunication Tools This course (Introduction to Financre (FIN-101-D02I Distance Snring 20211 is hased onn 7utter/Smart: Princinles of Managerial Finance Rrief Re Type here to search
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