Question: The answer to this question was answer with 9.68% but that answer is not an option A firm is paying an annual dividend of $6.00

The answer to this question was answer with 9.68% but that answer is not an option

A firm is paying an annual dividend of $6.00 for its preferred stock which is selling for $62.00. There is a selling cost of $4.00. What is the after-tax cost of preferred stock if the firm's tax rate is 36%? (Round your answer to 2 decimal places.)

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