What is the cost of the preferred stock

Reference no: EM13267526

Taylor Systems has just issued preferred stock. The stock has a 12% annual dividend and an $80 par value and was sold at $83.20 per share. In addition, flotation costs of $4.80 per share were paid. Calculate the cost of the preferred stock.

What is the cost of the preferred stock?

Reference no: EM13267526

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