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Required: Find the after-tax return to a corporation that buys a share of preferred stock at $48, sells it at year-end at $48, and receives

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Required: Find the after-tax return to a corporation that buys a share of preferred stock at $48, sells it at year-end at $48, and receives a $8 year-end dividend. The firm is in the 21% tax bracket. (Round your answer to 2 decimal places.)

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