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Accounting

Problem:

Firm X has a tax rate of 30%. The price of its new preferred stock is $63 and its flotation cost is $3.15. The cost of new preferred stock is 12%.

Requirement:

Question: What is the firm's dividend?

Choose one:

1. $7.18

2. $5.03

3. $7.56

4. none of these

Note: Please show basic calculation

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91169870

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