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A firm is paying an annual dividend of $10.00 for its preferred stock which is selling for $63.00. There is a selling cost of $3.00.
A firm is paying an annual dividend of $10.00 for its preferred stock which is selling for $63.00. There is a selling cost of $3.00. What is the after-tax cost of preferred stock if the firm's tax rate is 31%? (Round your answer to 2 decimal places.)
16.67%
18.82%
18.12%
15.32%
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