Issues of preferred stock

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Reference no: EM13134198

Columbia Corporation is considering expanding its operations through the issuance of preferred stock. The preferred stock has a par value of $100 and a dividend rate of 10%. The flotation cost is 2% of the par value. Similar issues of preferred stock are currently providing a yield of 12%. What can the company expect to receive for each share of stock sold.

Reference no: EM13134198

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