Torch Industries can issue perpetual preferred stock at a price of $74.00 a share. The stock would pay a constant annual dividend of $6.00 a
Torch Industries can issue perpetual preferred stock at a price of $74.00 a share. The stock would pay a constant annual dividend of $6.00 a share. What is the company's cost of preferred stock, rp? Round your answer to two decimal places.
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Authors: Mike E. Miles, Laurence M. Netherton, Adrienne Schmitz
5th Edition
0874203430, 978-0874203431
