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Calculate the after-tax cost of preferred stock, if a company is planning to sell $50 million of $4.25 cumulative preferred stock to the public at

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Calculate the after-tax cost of preferred stock, if a company is planning to sell $50 million of $4.25 cumulative preferred stock to the public at a price of $20 per share. Floatation costs are $1.50 per share. The company has a marginal tax rate of 35%. O 13.54% O 11% O 21.25% 0 22.97%

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