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10- Firm X has a tax rate of 29%. The price of its new preferred stock is $65 and its flotation cost is $2.00. The

10- Firm X has a tax rate of 29%. The price of its new preferred stock is $65 and its flotation cost is $2.00. The cost of new preferred stock is 12%. What is the firm's dividend? (Round your answer to 2 decimal places.)

  • $7.56
  • $9.01
  • $6.21
  • $9.71

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