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Granville Co. recently purchased several shares of Kalvaria Electronics' preferred stock. The preferred stock has...

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Calculus

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Granville Co. recently purchased several shares of Kalvaria Electronics' preferred stock. The preferred stock has a before-tax yield of 8.60%. If the company'stax rate is 15%, what is Granville Co.'s after-tax yield on the preferred stock? Assume a 70% dividend exclusion for tax on dividends. (Round your final answerto two decimal places.)a. 9.53%b. 7.47%c. 8.95%d. 8.21%e. 8.79%

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