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Find the after-tax return to a corporation that buys a share of preferred stock at $34, sells it at year-end at $34, and receives a
Find the after-tax return to a corporation that buys a share of preferred stock at $34, sells it at year-end at $34, and receives a $5 year-end dividend. The tax rule allows the company to exclude 70% of dividends received in the computation of its taxable income. The firm is in the 30% tax bracket. (Round your answer to 4 decimal places.)
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