Question
Taylor Systems has just issued preferred stock. The stock has a 12% annual dividend and an $80 par value and was sold at $83.20 per
Taylor Systems has just issued preferred stock. The stock has a 12% annual dividend and an $80 par value and was sold at $83.20 per share. In addition, flotation costs of $4.80 per share were paid. Calculate the cost of the preferred stock.
What is the cost of the preferred stock?
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Global Corporate Finance A Focused Approach
Authors: Kenneth Kim, Suk Kim
3rd Edition
9811207119, 9789811207112
