Question
Pangbourne Whitchurch has preferred stock outstanding. The stock pays a dividend of $8 per share, and sells for $40. The corporate tax rate is 21%.
Pangbourne Whitchurch has preferred stock outstanding. The stock pays a dividend of $8 per share, and sells for $40. The corporate tax rate is 21%. What is the percentage cost of the preferred stock?
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Business Accounting
Authors: Jill Collis, Andrew Holt, Roger Hussey
3rd Edition
113752149X, 9781137521491
