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A firm is paying an annual dividend of $9.00 for its preferred stock which is selling for $65.00. There is a selling cost of $2.00. What is the after-tax cost of preferred stock if the firm's tax rate is 36%? (Round your answer to 2 decimal places.)

16.44%

15.74%

12.94%

14.29%

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92170202

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