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which of the following is not true about preferred stock? a)70% of dividends are nontaxable to other corporations that hold preferred stock b) the after-tax

which of the following is not true about preferred stock?

a)70% of dividends are nontaxable to other corporations that hold preferred stock

b) the after-tax cost is higher than debt with the same yield

c) dividends are legal obligations of the firm

d) prefered stocks are typically cumulative with respect to dividends

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