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2. Maness Industries plans to issue some $100 par preferred stock with an 11% dividend. Their… 1 answer below » 2. Maness Industries plans to issue some $100 par preferred stock with an 11% dividend. Their stock is selling on the market for $97.00, and Maness must pay flotation costs of 5% of the market price. What is the cost of the preferred stock for Maness? Feb 04 2016 05:22 AM