What is the after tax cost of this capital express your

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A company facing a tax rate of 40% has an outstanding issue of 300,000 shares of preferred stock with a $71 par value. The shares pay a 9% dividend and are priced at $78. What is the after tax cost of this capital? Express your answer without a percent sign (12.345% = 12.345).

Reference no: EM13486171

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