Calculate the cost of the preferred stock

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Reference no: EM132044429

Cost of preferred stock. Taylor Systems has just issued preferred stock. The stock has a 11% annual dividend and a $ 110 par value and was sold at $100.10 per share. In addition, flotation costs of $6.60 per share were paid. Calculate the cost of the preferred stock.

The cost of the preferred stock is % (round to two decimal places)

Reference no: EM132044429

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