1 answer

Cost of Preferred Stock with Flotation Costs Burnwood Tech plans to issue some $60 par preferred...

Question:

Cost of Preferred Stock with Flotation Costs Burnwood Tech plans to issue some $60 par preferred stock with a 5% dividend. A similar stock is selling on the market for $69. Burnwood must pay flotation costs of 6% of the issue price. What is the cost of the preferred stock? Round your answer to two decimal places.?


Answers

Cost of new preferred stock = dividend = (price-flotation cost ) - 4.63% 60*0.05)+(69–0.94)

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