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FINA company preferred stocks are paying $10 dividends per share. FINA sold its preferred shares for $210 and had to incur $10/share floatation cost. The

FINA company preferred stocks are paying $10 dividends per share. FINA sold its preferred shares for $210 and had to incur $10/share floatation cost. The tax rate is 20 percent. What is the after-tax cost of the preferred stocks?

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