A firm is paying an annual dividend of $6.00 for its preferred stock which is selling for $70.00. 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%? Note: Round your answer to 2 decimal places. Multiple Choice

8.96%

11.11%

10.41%

7.61%

A firm is paying an annual dividend of $6.00 for its preferred stock which is selling for $70.00. There is a selling cost of $3.00. What is the after-tax cost of preferred stock if the firm's tox rate is 31% ? Note: Round your answer to 2 decimal places. Multiple Choice 896 10.418 76N A firm is paying an annual dividend of $6.00 for its preferred stock which is selling for $70.00. There is a selling cost of $3.00. What is the after-tax cost of preferred stock if the firm's tox rate is 31% ? Note: Round your answer to 2 decimal places. Multiple Choice 896 10.418 76N