[Code of Federal Regulations]
[Title 47, Volume 3]
[Revised as of October 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 47CFR65.303]

[Page 349]
 
                       TITLE 47--TELECOMMUNICATION
 
        CHAPTER I--FEDERAL COMMUNICATIONS COMMISSION (CONTINUED)
 
PART 65_INTERSTATE RATE OF RETURN PRESCRIPTION PROCEDURES AND METHODOLOGIES
--Table of Contents
 
                       Subpart C_Exchange Carriers
 
Sec.  65.303  Cost of preferred stock.

    The formula for determining the cost of preferred stock is:
    [GRAPHIC] [TIFF OMITTED] TR01JN95.001
    
Where:
    ``Total Annual Preferred Dividends'' is the total dividends on 
preferred stock for the most recent two years for all local exchange 
carriers with annual revenues equal to or above the indexed revenue 
threshold as defined in Sec.  32.9000. ``Proceeds from the Issuance of 
Preferred Stock'' is the average of the total net proceeds from the 
issuance of preferred stock for the most recent two years for all local 
exchange carriers with annual revenues equal to or above the indexed 
revenue threshold as defined in Sec.  32.9000.

[60 FR 28545, June 1, 1995, as amended at 67 FR 5702, Feb. 6, 2002]