Travis Industries plans to issue perpetual preferred stock with an $11.00 dividend. The stock is currently selling
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Travis Industries plans to issue perpetual preferred stock with an $11.00 dividend. The stock is currently selling for $108.50, but flotation costs will be 5% of the market price, so the net price will be $103.08 per share. What is the cost of the preferred stock, including flotation?
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Related Book For 
Fundamentals of Financial Management
ISBN: 978-1337395250
15th edition
Authors: Eugene F. Brigham, Joel F. Houston
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