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ans asap 10 points Zorojuro Tools just issued new preferred stock, which sold for 565 in the stock markets. Holders of the stock will receive
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10 points "Zorojuro Tools just issued new preferred stock, which sold for 565 in the stock markets. Holders of the stock will receive an annual dividend equal to 53.55. The flotation costs associated with the new issue were 5 percent and Zorojuro's marginal tax rate is 30 percent. What is the component cost of preferred stock, rps? (Round off the answer to 4 decimal places.)Step by Step Solution
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