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A firm is paying an annual dividend of $3.00 for its preferred stock which is selling for $63.00. There is a selling cost of $4.00

A firm is paying an annual dividend of $3.00 for its preferred stock which is selling for $63.00. There is a selling cost of $4.00 What is the after-tax cost of preferred stock if the firm's tax rate is 38% Note: Round your answer to 2 decimal places Multiple Choice SOPS 3736 0 O O 6579 723%

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