QUESTION 3 ABC Company's preferred stock is currently selling for $24.00, and pays an annual dividend of $2.40. Underwriters of a new issue of preferred stock would charge $2 in flotation costs. Compute the cost of preferred stock for ABC. D= Net proeeds= Kps=

ABC Company's preferred stock is currently selling for $24.00, and pays an annual dividend of $2.40. Underwriters of a new issue of preferred stock would charpe $2. in flotation costs. Compute the cost of preferred stock for ABC. D. Net proeeds: kps=