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Kyle is raising funds for his company by selling preferred stock. The preferred stock has a par value of ?$99 and a dividend rate of 10.3?%. The stock is selling for ?$65.98 in the market. Kyle hires Wilson Investment Bankers to sell the preferred stock. Wilson charges a fee of 3?% on the sale of preferred stock. What is the cost of preferred stock for Kyle using the investment? banker?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92354175

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