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Calculate the cost of perferred stock

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Reference no: EM132023287

Taylor Systems has just issued preferred stock. The stock has a 11% annual dividend and a $80 par value and was sold at $87.20 per share.

In addition, flotation costs of $6.40 per share were paid. Calculate the cost of perferred stock.

The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM132023287

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