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Find the after-tax return to a corporation that buys a share of preferred stock at $38, sells it at year-end at $38, and receives a

Find the after-tax return to a corporation that buys a share of preferred stock at $38, sells it at year-end at $38, and receives a $4 year-end dividend. The firm is in the 30% tax bracket. (Round your answer to 2 decimal places.)

Answer is not 9.58%!...

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