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What is the company percent cost of preferred stock

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Reference no: EM132912187

Problem - Bosio Inc.'s perpetual preferred stock sells for $85.00 per share, and it pays an $8.50 annual dividend. If the company were to sell a new preferred issue, it would incur a flotation cost of 4.00% of the price paid by investors. The company's tax rate is 40%. What is the company's percent cost of preferred stock for use in calculating the WACC?

Reference no: EM132912187

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