The preferred stock of Dolphin Pools pays an annual dividend of $5.25 a share and sells...
The preferred stock of Dolphin Pools pays an annual dividend of $5.25 a share and sells for $48a share. The tax rate is 35 percent. What is the firm's cost of preferred stock?
9.67 percent
10.94 percent
15.07 percent
15.59 percent
16.47 percent
Homework Answers
\(K_{p}=\frac{D}{P_{0}}=\frac{\$ 5.25}{\$ 48}=10.94 \%\)
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