mature in 14 years. The firm's average tax rate is 30 percent and its marginal tax rate is 23 percent. percent. The corporation's tax rate is 23 percent. d. A preferred stock paying a dividend of 11 percent on a $150 par value. If a new issue is offered, flotation costs will be 14 percent of the current 171 . from the bond with the present value of the future cash flows (principal and interest). mature in 14 years. The firm's average tax rate is 30 percent and its marginal tax rate is 23 percent. percent. The corporation's tax rate is 23 percent. d. A preferred stock paying a dividend of 11 percent on a $150 par value. If a new issue is offered, flotation costs will be 14 percent of the current 171 . from the bond with the present value of the future cash flows (principal and interest)