Principles of Managerial Finance: E9-2 Your firm, people's consulting group, has been asked

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Principles of Managerial Finance
E9-2
Your firm, people's consulting group, has been asked to consult on a potential preferred stock offering by Brave New World. This 15% preferred stock issue would be sold at its par value of $35 per share. Flotation costs would total $3 per share. Calculate the cost of this preferred stock
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