Deltona issued preferred shares four years ago at 60 per, Ask an Expert

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Deltona issued preferred shares four years ago at $60 per share, with a promised dividend of $5 per share. The company's tax rate is 35%, and its common stock beta is 0.80. Yields on comparable risk preferred stocks are 9%. The floatation expense percentage is 8. What is the cost to Deltona to issue preferred shares under current market conditions? Express your answer as a percentage, and round to two decimal points.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92075910

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