Preferned stock is a hybrid security, because it has some characteristics typical of debe and others typical of equity. The following table lists various charecteristics of preferred stock. Determine which of these characteristics is consistent with debt and which is consistent with equity. Consider the case of Bogdan Enterprises: At the present time, Bogdan Enterprises does not have any preferred stock outstanding but is looking to include preferred stock in its capital structure in the future. Bogdan has found some institutional investors that are wiling to purchase its preferred stock issue provided that it pars a perpetual dividend of $15 per share. If the investors poy $145.23 per shere for their investment, then Bogdan's cost of preferred stock (rounded to four decimal places) wili be 3. The cost of preferred stock Preferred sack is a hybrid security, because it has some cheracteristics typlail of debt and others typical of equity. The following table lists variour a.sinenistics of preferred stock. Determine which of these characteristics is consistent math debe and which is consistent with equity. places) wid be