Weir inc.'s perpetual preferred stock sells for $97.50 per share, and it pays an $8.50 annual dividend. if the company were to sell a new preferred issue, it would incur a flotation cost of 4.00% of the price paid by investors. what is the company's cost of preferred stock for use in calculating the wacc? hint: see textbook on how to adjust a stock price for floatation costs; they show it for common shares if not for preferred.
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