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22) Grill Works has 6 percent preferred stock outstanding that is currently selling for $49 a share. The market rate of return is 14

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22) Grill Works has 6 percent preferred stock outstanding that is currently selling for $49 a share. The market rate of return is 14 percent and the tax rate is 21 percent. What is the cost of preferred stock if its stated value is $100 per share? A) 12.77 percent B) 12.29 percent C) 12.67 percent D) 12.24 percent E) 12.54 percent

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