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Afirm is paying an annual dividend of $3.00 for its preferred stock which is selling for $62.00. There is a selling cost of $2.00. What

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Afirm is paying an annual dividend of $3.00 for its preferred stock which is selling for $62.00. There is a selling cost of $2.00. What is the after-tax cost of preferred stock if the firm's tax rate is 35%? (Round your answer to 2 decimal places.) Multiple Choice 5.00% 6.45% 7.15% 3.65%

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