Question
Pangbourne Whitchurch has preferred stock outstanding. The stock pays a dividend of $15 per share, and sells for $75. The corporate tax rate is 35%.
Pangbourne Whitchurch has preferred stock outstanding. The stock pays a dividend of $15 per share, and sells for $75. The corporate tax rate is 35%. What is the percentage cost of the preferred stock?(Enter your answer as a whole percent.)
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Personal Finance Turning Money into Wealth
Authors: Arthur J. Keown
8th edition
134730364, 978-0134730363
