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Cost of preferred stock Taylor Systems has just issued preferred stock. The stock has a...

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Finance

image Cost of preferred stock Taylor Systems has just issued preferred stock. The stock has a 12% annual dividend and a $120 par value and was sold at $124.80 per share. In addition, flotation costs of $10.80 per share were paid. Calculate the cost of the preferred stock. The cost of the preferred stock is \%. (Round to two decimal places.)

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