esYou have 35,000 shares of preferred stock outstanding in the market, with a current price of $101 per share.What is the cost of preferred stock if the dividend per share is $5.90?(Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places,e.g., 12.34.)Cost of preferred stock%

Current price per share: $101Dividend per share: $5.90

Answered: You have 35,000 shares of preferred…

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter8: Basic Stock Valuation

Section: Chapter Questions

Problem 21MC

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You have 35,000 shares of preferred stock outstanding in the market, with a current price of $124 per share. What is the cost of preferred stock if the dividend per share is $6.20? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 12.34.) Cost of preferred stock %
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