1 of 9 (0 complete) HW Score: 0%, 0 of 10 pts Score: 0 of 1 pt Warm-Up 9-2 (similar to) Assigned Media E Question Help Your firm, People's Consulting Group, has been asked to consult on a potential preferred stock offering by Brave New World. This 15% preferred stock issue would be sold at its par value of $60 per share. Flotation costs would total $2.50 per share. Calculate the cost of this preferred stock. The cost of preferred stock is %. (Round to two decimal places)