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What is the appropriate cost of preferred stock with a par value of $10.0, that sells for $22.0 per share and offers a $1.3 dividend

What is the appropriate cost of preferred stock with a par value of $10.0, that sells for $22.0 per share and offers a $1.3 dividend when the tax rate is 50%? (No Excel answers please).

a. 5.91%

b. 6.50%

c. 2.95%

d. 13.00%

e. 13.30%

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