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I will make sure to like help! Thank you in advance. Taylor Systems has just issued preferred stock. The stock has a 12% annual dividend

I will make sure to like help! Thank you in advance.

Taylor Systems has just issued preferred stock. The stock has a 12% annual dividend and a $110 par value and was sold at $100.10 per share. In addition, flotation costs of $8.80 per share were paid. Calculate the cost of the preferred stock.

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