Sixth fourth bank has an issue of preferred stock with a, Financial Management

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Sixth fourth bank has an issue of preferred stock with a

Sixth Fourth Bank has an issue of preferred stock with a $6.10 stated dividend that just sold for $123 per share.

What is the bank’s cost of preferred stock? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Cost of preferred stock %

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Financial Management: Sixth fourth bank has an issue of preferred stock with a

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Financial Management: Sixth fourth bank has an issue of preferred stock with a

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