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Builtrite Auto has preferred stock shares outstanding that pay an annual dividend of $6 and are currently selting for $68 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 selting for $68 a share. What is the after-tax cost of preferred stock if the flotation cost for new shares is 8% and Builtrite is in the 34% marginal tax bracket? 7.428 6.33% 9,594 4,90%

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