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Attempts Do No Harm/1 9. Problem 10.14 (Cost of Proferred Stock including Flotation) eBook Travis...

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Attempts Do No Harm/1 9. Problem 10.14 (Cost of Proferred Stock including Flotation) eBook Travis Industries plans to issue perpetual preferred stock with an $11.00 dividend. The stock is currently selling for $103.00, but rotation costs will be 8% of the market price, to the net price will be $94.76 per share. What is the cost of the preferred stock, including flotation? Round your answer to two decimal places 40

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