nsutton5056 nsutton5056

16-03-2020
Business

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Grill Works and More has 7 percent preferred stock outstanding that is currently selling for $49 a share. The market rate of return is 14 percent and the firm's tax rate is 37 percent. What is the firm's cost of preferred stock?

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busyfingers1193 busyfingers1193

19-03-2020

Answer: 14.29%

Explanation:

percentRp= (0.07 × $100)/$49 = 14.29

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