What is the companys annual cost of preferred stock, Financial Management

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What is the companys annual cost of preferred stock

A company’s perpetual preferred stock has a market value of $433.1million and pays a dividend rate of 9.25% per year. The company’s tax rate is 37%. If the preferred stock’s par value is $450 million, what is the company’s annual cost of preferred stock financing?

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Financial Management: What is the companys annual cost of preferred stock

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