Calculate the after-tax cost of preferred stock for Centene Corporation Corporation, which is planning to sell $280 million of $14.60 cumulative preferred stock to the public at a price of $87 per share. Flotation costs are $5 per share. Centene Corporation has a marginal income tax rate of 22%.

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To calculate the aftertax cost of preferred stock for Centene Corporation we need to take into accou... View the full answer