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What is the cost of the preferred stock for maness

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Reference no: EM133184657

Question - Maness Industries plans to issue (100 par preferred stock with an 11% dividend. The stock is selling in the market for 697 and Maness must pay flotation costs of 5% on the market price.

(i) What is the cost of the preferred stock for Maness?

(ii) Provide an explanation as to what the cost of preferred stock implies for the firm.

Reference no: EM133184657

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