<u>Solution and Explanation:</u>
<u>Given data:</u>
the market price of share = $80, the par value of share = $75, floatation cost = $3.5, corporate tax = 21 %
The Annual dividend = 75 multiply with 16 percent = $12
Hence, the cost of preferred stock = Annual dividend divide by (Current price-Flotation cost)
= 12 / (80-3.5)
after solving, we get, which is equal to
= 15.69% (Approx) (rounded off to 2 decimal places)
NOTE: The Tax rate would not affect the cost of preferred stock financing.
Answer:C. pre-conventional level.
Explanation:Pre-conventional level is the first level of Kohlberg's theory of Moral development,it is composed of a child knowing the material consequence of some of his or her actions. Pre-conventional level of moral development are controlled by external forces,for children and adults it occurs when a person becomes aware of certain rules concerning certain actions and avoids those rules in order not to be punished.
The most basic benefit of marketing channels is channel efficiency <span>where channels reduce the number of contacts necessary to exchange products.
The definition of channel efficiency is as follows:
"</span><span>A measure of channel performance in relation to efficiency and cost."</span>
