Question
Pangbourne Whitchurch has preferred stock outstanding. The stock pays a dividend of $12 per share, and sells for $80. The corporate tax rate is 35%.
Pangbourne Whitchurch has preferred stock outstanding. The stock pays a dividend of $12 per share, and sells for $80. 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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Basic Finance An Introduction To Financial Institutions, Investments, And Management
Authors: Herbert B. Mayo
12th Edition
1337691011, 978-1337691017
