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Kresler Autos has preferred shares outstanding that pay annual dividends of $16, and the current price of the shares is $75. What is the after-tax

Kresler Autos has preferred shares outstanding that pay annual dividends of $16, and the current price of the shares is $75. What is the after-tax cost of new preferred shares for Kresler if the flotation (issuance) costs for preferred shares are 5 percent?

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