the answer is not 5.28 or 6.87

Problem 2-9 Find the after-tax return to a corporation that buys a share of preferred stock at $53, sells it at year-end at $53, and receives a $4 year- end dividend. The firm is in the 30% tax bracket. (Do not round Intermediate calculations. Round your answer to 2 decimal places.) After-tax rate of return . %