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Your firm Peoples Consulting Group, has been asked to consult on a potential preferred stock offering by Brave New World. This 14% preferred stock issue

Your firm Peoples Consulting Group, has been asked to consult on a potential preferred stock offering by Brave New World. This 14% preferred stock issue would be sold at its par value of 60$ per share. Flotation costs would total $4.00 per share. Calculate the cost of this preferred stock.

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