Calculate the cost of this preferred stock

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Your? firm, People's Consulting? Group, has been asked to consult on a potential preferred stock offering by Brave New World. This 11 11?% preferred stock issue would be sold at its par value of ?$ 55 55 per share. Flotation costs would total ?$ 3.00 3.00 per share. Calculate the cost of this preferred stock.

Reference no: EM131576825

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