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Burnwood Tech plans to issue some $55 par preferredstock with a 5.50% dividend. A similar stock is selling on themarket for $70. Burnwood must pay

Burnwood Tech plans to issue some $55 par preferredstock with a 5.50% dividend. A similar stock is selling on themarket for $70. Burnwood must pay flotation costs of 7.0% of theissue price. What is 1 answer

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