BrainyBoy89551 BrainyBoy89551

08-08-2024
Business

Answered

A firm has $2 million market value and it sells preferred stock with a par value of $100. If the coupon rate on the preferred stock is 4% and the preferred stock trades at $90, what is the cost of preferred stock financing?
A. 4.22%
B. 4.67%
C. 4.89%
D. 4.44%

Answer :

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