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Firm X has a tax rate of 26%. The price of its new preferred stock is $66 and its flotation cost is $3.00. The cost

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Firm X has a tax rate of 26%. The price of its new preferred stock is $66 and its flotation cost is $3.00. The cost of new preferred stock is 14%. What is the firm's dividend? (Round your answer to 2 decimal places.) Multiple Choice $7.47 $10.97 $10.27 $8.82

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