What is the cost of preferred stock-including flotation

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Travis Industries plans to issue perpetual preferred stock wth an $11.00 dvidend. The stock is currently selling for $114.00, but flotation costs will be 10% of the market price, so the net price will be $102.60 per share. What is the cost of the preferred stock, including flotation? Round your answer to two decimal places

Reference no: EM131908745

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