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Halifax Firm has a tax rate of 30%. The price of its new preferred stock is $63. The cost of new preferred stock is 12%.

Halifax Firm has a tax rate of 30%. The price of its new preferred stock is $63. The cost of new preferred stock is 12%. What is the firm's dividend?

A. $6.30

B. $7.18

C. $7.56

D. $5.03

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