A firm is paying an annual dividend of $6.00 for its preferred stock which is selling for $62.00. There is a selling cost of $3.00. What is the after-tax cost of preferred stock if the firm's tax rate is 38%? (Round your answer to 2 decimal places.)

8.82%

12.32%

10.17%

11.62%

Firm X has a tax rate of 31%. The price of its new preferred stock is $64 and its flotation cost is $2.00. The cost of new preferred stock is 11%. What is the firm's dividend? (Round your answer to 2 decimal places.)

$5.47

$6.82

$8.27

$8.97

A firm's preferred stock pays an annual dividend of $8, and the stock sells for $72. Flotation costs for new issuances of preferred stock are 3% of the stock value. What is the after-tax cost of preferred stock if the firm's tax rate is 38%? (Round your answer to 2 decimal places.)

11.45

12.90

10.10

13.60