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Your firm's preferred stock pays a dividend of $2.31 per yoar. The current price of the preferred stock is $73.36. Your firm's tax rate is

Your firm's preferred stock pays a dividend of $2.31 per yoar. The current price of the preferred stock is $73.36. Your firm's tax rate is 27%. What is your firm's cost of prefemed stock? The firm's cost of preferred stock is (Enter the answor in decimal form. Round to two decimal places

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