Torch Industries can issue perpetual preferred stock at a price of $52.00 a share. The stock would pay a constant annual dividend of $5.50 a share. What is the company's cost of preferred stock, rp? Round your answer to two decimal places.
% ?
cost of preferred stock = annual dividend/price of stock
= 5.5/52
= 10.58%
hence the answer is 10.58%
Torch Industries can issue perpetual preferred stock at a price of $52.00 a share. The stock...
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