14. Problem 10.14 (Cost of Preferred Stock including Flotation) ...
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14. Problem 10.14 (Cost of Preferred Stock including Flotation)
| eBook Travis Industries plans to issue perpetual preferred stock with an $11.00 dividend. The stock is currently selling for $107.00, but flotation costs will be 10% of the market price, so the net price will be $96.30 per share. What is the cost of the preferred stock, including flotation? Round your answer to two decimal places. % |
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