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Livif Inc. is currently paying dividends of 8% per year on $199 par value preferred stock. The current price of Livif common stock is $68.30
Livif Inc. is currently paying dividends of 8% per year on $199 par value preferred stock. The current price of Livif common stock is $68.30 per share. Flotation costs are 8% of the market price when Livif issues new preferred stock. What is Livif's cost of new preferred stock? Submit your answer as a percentage and round to two decimal places (Ex. 0.00%)
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