Granville Co.recently purchased several shares of Kalvaria Electronics' preferred stock.The preferred stock has a before-tax yield of 8.6%.If the company's tax rate is 40%,what is Granville Co.'s after-tax yield on the preferred stock?
A) 6.49%
B) 6.83%
C) 7.19%
D) 7.57%
E) 7.95%
Correct Answer:
Verified
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