Maness industries plans to issue 100 par preferred stock, Ask an Expert

Finance

Maness Industries plans to issue $100 par preferred stock with an 11 percent deviden. The stock is selling on the market for $97.00, and Maness must pay flotation costs of 5 percent of the market price. What is the cost of the preferred stock for Maness.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91795107

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