Nature Food Inc. needs to estimate the cost of financing on preferred stock. The firm has preferred stock outstanding that pays a constant dividend of $3.94 per year.
Nature Food Inc. needs to estimate the cost of financing on preferred
stock. The firm has preferred stock outstanding that pays a constant dividend of $3.94 per year. That preferred stock is currently selling for $74.45. However, the underwriter would charge flotation costs of $3.52 per share. What is the form’s cost of preferred stock financing?
Round the answers to two decimal places in percentage form.
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