1alculate the cost of preference capital (k_p) for a non-redeemable preference share which has the following:

Price = $15 and a Preference dividend of $1.3paid every six months. Your answer should the effective annual cost as adecimal accurate tofour decimal places

2Given thatpreference shares have an expected dividend stream of 20 cents in perpetuity and that the current market price (cum-dividend) of the preference shares is $2.40, calculate the cost ofcapital(kp)of these preference shares.my answer is 0.0833,but it is wrong)

3,