Infinity industries has just issued some 100 par preferred, Financial Management

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Infinity industries has just issued some 100 par preferred

Infinity Industries has just issued some $100 par preferred stock with a 10 percent dividend. The stock is selling on the market for $96.17, and Infinity must pay flotation costs of 6 percent of the market price. What is the cost of the preferred stock for Infinity?

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Financial Management: Infinity industries has just issued some 100 par preferred

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