Cost of preferred stock

theaasch | 14:46 Tue 04th Dec 2007 | Business & Finance

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klieman company's perpetual preferred stock sells for $90 per share and pays a $7.50 annual dividend per share. If the company were sell a new preferred issue, it would incur a flotation cost of 5.00% of the price paid by investors. What is the company's cost of preferred stock?

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