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The preferred stock of Dolphin Pools pays an annual dividend of $5.25 a share and sells for $48 a share. The tax rate is 35

The preferred stock of Dolphin Pools pays an annual dividend of $5.25 a share and sells for $48 a share. The tax rate is 35 percent. What is the firm's cost of preferred stock? C 9.67 percent 10.94 percent C 7.11 percent 15.07 percent

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