Ecotours incs perpetual preferred stock currently trades at, Financial Management

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Ecotours incs perpetual preferred stock currently trades at

EcoTours, Inc.'s perpetual preferred stock currently trades at $69.75 per share, and it pays a $1.35 quarterly dividend. If the company were to sell a new preferred issue, it would incur flotation costs of 4.50% of the issue price. What is EcoTours' cost of preferred stock?

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Financial Management: Ecotours incs perpetual preferred stock currently trades at

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