Calculate the cost of the preferred stock

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Reference no: EM131552580

Taylor Systems has just issued preferred stock. The stock has a 12?% annual dividend and a $50 par value and was sold at $49.50per share. In? addition, flotation costs of $4.00 per share were paid. Calculate the cost of the preferred stock.

___ % (Round to two decimal places)

Reference no: EM131552580

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