Question: Please break down the solution/formulas used Klieman Company's perpetual preferred stock sells for $91 per share and pays a $11.6 annual dividend per share. If

Please break down the solution/formulas used Klieman Company's perpetual preferred stock

Please break down the solution/formulas used

Klieman Company's perpetual preferred stock sells for $91 per share and pays a $11.6 annual dividend per share. If the company were to sell a new preferred issue, it would incur a flotation cost of 4.7% of the price paid by investors. What is the company's cost of preferred stock

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