Question: Bobs stuff, INC has preferred stock with a stated dividend of $3.57, which is currently trading at 25.6 per share. Bob bleives he can sell

Bobs stuff, INC has preferred stock with a stated dividend of $3.57, which is currently trading at 25.6 per share. Bob bleives he can sell shares at that cost, but with flotation costs at 7% of the selling price.

What is Bobs cost of preferred stock?

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