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Category > Accounting Posted 10 May 2017 My Price 6.00

Jumbo Juice’s preferred stock pays a constant dividend

Jumbo Juice’s preferred stock pays a constant dividend equal to $4.75 per share. The firm’s marginal tax rate is 40 percent. Jumbo Juice incurs a 5 percent flotation cost each time it issues preferred stock. (a) If the firm issues 10,000 shares of preferred stock at $50 per share, how much of the total value of the issue will the firm be able to use (receive)? (b) What is Jumbo Juice’s cost of preferred stock?

 

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Alpha Geek
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Status NEW Posted 10 May 2017 03:05 PM My Price 6.00

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file 1494429847-Answer.docx preview (161 words )
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