Burwood Tech plans to issue some $60 par preferred stock with a 8% dividend. A similar stock
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Burwood Tech plans to issue some $60 par preferred stock with a 8% dividend. A similar stock is selling on the market for $65. Burwood must pay flotation costs of 6% of the issue price. What is the cost of the preferred stock? Round your answer to two decimal places. %
Related Book For
Financial management theory and practice
ISBN: 978-1439078099
13th edition
Authors: Eugene F. Brigham and Michael C. Ehrhardt
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