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Travis Industrie plans to lose perpetual preferred stock with an $11.00 dividend. The stock is currently seling for $1120, but flotation costs will be of

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Travis Industrie plans to lose perpetual preferred stock with an $11.00 dividend. The stock is currently seling for $1120, but flotation costs will be of the market price, so the net price will be $105.75 per share. What is the cost of the preferred stock, including flotation Round your answer to two decimal

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