Question
Pangbourne Whitchurch has preferred stock outstanding. The stock pays a dividend of $7 per share, and sells for $70. The corporate tax rate is 35%.
Pangbourne Whitchurch has preferred stock outstanding. The stock pays a dividend of $7 per share, and sells for $70. 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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International Financial Markets And The Firm
Authors: Piet Sercu, Raman Uppal
1st Edition
1861523548, 978-1861523549
