A firms preferred stock pays an annual dividend of 9 and, Financial Management

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A firms preferred stock pays an annual dividend of 9 and

A firm's preferred stock pays an annual dividend of $9, and the stock sells for $71. Flotation costs for new issuances of preferred stock are 7% of the stock value. What is the after-tax cost of preferred stock if the firm's tax rate is 37%? (Round your answer to 2 decimal places.)

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Financial Management: A firms preferred stock pays an annual dividend of 9 and

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Financial Management: A firms preferred stock pays an annual dividend of 9 and

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