Illustrate what is diggin tools cost of preferred stock r ps

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Reference no: EM13131710

Diggin tools just issued new preferred stock, which sold for $85 in the stock markets. Holders of the stock will receive an annual dividend equal to $9.35. The flotation costs associated with the new issue were 6 percent and diggin tools marginal tax rate is 30 percent. Illustrate what is diggin tools cost of preferred stock r ps?

Reference no: EM13131710

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