1 of 6 (0 complete) Score: 0 of 10 pts P9-7 (similar to) HW Score: 0%, 0 of 60 pts Question Help 1:0 Cost of preferred stock Taylor Systems has just issued preferred stock. The stock has a 9% annual dividend and a $30 par value and was sold at $76.80 per share In addition, flotation costs of $4.00 per share were paid Calculate the cost of the preferred stock The cost of the preferred stock is % (Round to two decimal places.)