Jensens travel agency has a 32 percent preferred stock, Ask an Expert

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Jensen's Travel Agency has a 3.2 percent preferred stock outstanding that is currently selling for $59.97 a share. The rate of return on the market portfolio is 8.77 percent and the firm's tax rate is 37 percent. What is Jensen's cost of preferred stock? Remember that the usual par value of preferred stock is $100. Enter answer in percents.

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Financial Management, Finance

Category:- Financial Management
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