Compute the cost of preferred stock

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Reference no: EM131894444

Medco Corporation can sell preferred stock for $128 with an estimated flotation cost of $3. It is anticipated the preferred stock will pay $7 per share in dividends.

a. Compute the cost of preferred stock for Medco Corp. (Input your answer as a percent rounded to 2 decimal places.)

Cost of preferred stock- %?

Reference no: EM131894444

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