Solved: Burnwood tech plans to issue some 60 par preferred stock, Cost Accounting

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Burnwood tech plans to issue some 60 par preferred stock

Cost of Preferred Stock with Flotation Costs

Burnwood Tech plans to issue some $60 par preferred stock with a 6% dividend. The stock is selling on the market for $70.00, and Burnwood must pay flotation costs of 5% of the market price.

What is the cost of the preferred stock?

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Cost Accounting: Burnwood tech plans to issue some 60 par preferred stock

Reference No:- TGS0776465

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Cost Accounting: Burnwood tech plans to issue some 60 par preferred stock

Reference No:- TGS0776465

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