Question: please show work Question 3-Cost of Preferred Stack [2 points]: Hybrid Hydro Plants, Inc, which has a marginal tax rate equal to 40 pereent, has

please show work

Question 3-Cost of Preferred Stack [2 points]: Hybrid Hydro Plants, Inc, which has a marginal tax rate equal to 40 pereent, has preferred stock that pays a constant dividend equal to $15 per share. The stock currently sells for $120. If the company incurs a 5 percent flotation cost cach time it issues preferred stock, what is the cost of issuing preferred stock

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