Question
Pangbourne Whitchurch has preferred stock outstanding. The stock pays a dividend of $6 per share, and sells for $60. The corporate tax rate is 35%.
Pangbourne Whitchurch has preferred stock outstanding. The stock pays a dividend of $6 per share, and sells for $60. 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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Financial Markets And Institutions
Authors: Jeff Madura
13th Edition
0357130790, 978-0357130797
