$14-11.($Computing the cost of preferred stock$)$ The preferred stock of Walter Industries Inc. currently sells for $$36$ a share and pays a $10$ percent dividend on the $$25$ par value of the shares annually. What is the firm's cost of capital for the preferred stock?

P$14-11$M $($change the current market price to $$29$ per share and the dividend percentage to $7\mathrm{.}5\%$

Cost of Preferred Stock

Par value

Current market price

Dividend rate

Dividend dollars

Cost of Preferred Stock

Please solve for Excel