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Builtrite Auto has preferred stock shares outstanding that pay an annual dividend of $6 and are currently selling for $92 a share. What is the

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Builtrite Auto has preferred stock shares outstanding that pay an annual dividend of $6 and are currently selling for $92 a share. What is the after-tax cost of preferred stock if the flotation cost for new shares is 4% and Builtrite is in the 34% marginal tax bracket? 6.79% 4.48% 6.25% 4.13%

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