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TB MC Qu. 11-05 Firm X has a tax rate of... Firm X has a tax rate of 31%. The price of its new preferred

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TB MC Qu. 11-05 Firm X has a tax rate of... Firm X has a tax rate of 31%. The price of its new preferred stock is $68 and its flotation cost is $4.00. The cost of new preferred stock is 12%. What is the firm's dividend? (Round your answer to 2 decimal places.) Multiple Choice $6.33 $7.68 $9.83 $9.13

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