13. Coral Inc.'s preferred stock currently sells for $90 a share and pays a dividend of $10 per share; however, the firm will net only $80 per share from the sale of new preferred stock. What is the firm's cost of newly issued preferred stock? (Round off the answer to two decimal places.) a. I 115 percent b. 12.50 percent c. 16.45 percent d. 10.52 percent e. 13.46 percent