For calculating the 3M Company MMM cost of preferred stock F

For calculating the 3M Company (MMM) cost of preferred stock:

Find from the balance sheet whether or not the company has issued a preferred stock.

If so, find the current market price of the preferred stock from financial news and data outlets such as Yahoo Finance, Google Finance, Forbes, Bloomberg, etc.

Find from financial statements the dividend rate on preferred stock.

Assume that the floatation cost is 2 percent.

Solution

Checked the Balance sheet of MMM company, they have not isued any preferred stock