Holdup Bank has an issue of preferred stock with a $1.4 stated dividend that just sold...
Holdup Bank has an issue of preferred stock with a $1.4 stated dividend that just sold for $44.86 per share. What is the bank's cost of preferred stock?
Enter the answer with 4 decimals (e.g. 0.1234).
Homework Answers
cost of preferred stock=Annual dividend/Current value
=1.4/44.86
which is equal to
=0.0312(Approx).
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