Travis industries plans to issue perpetual preferred stock, Ask an Expert

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Travis Industries plans to issue perpetual preferred stock wth an $11.00 dvidend. The stock is currently selling for $114.00, but flotation costs will be 10% of the market price, so the net price will be $102.60 per share. What is the cost of the preferred stock, including flotation? Round your answer to two decimal places

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Financial Management, Finance

Category:- Financial Management
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