Question: Bob's Stuff, Inc has preferred stock with a stated dividend of $2.16, which currently trading at $29.35 per share, and Bob believes that the company

Bob's Stuff, Inc has preferred stock with a stated dividend of $2.16, which currently trading at $29.35 per share, and Bob believes that the company can issue additional shares at that price, but with flotation costs at 9% of the selling price. What is Bob's cost of preferred stock? (Answer in decimal form to 4 places. Do not use a percent sign, i.e 0.9999). Your

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