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22 Regalia Inc.'s perpetual preferred stock sells for $120.75 per share, and it pays an $9.15 annual dividend. If the company were to sell a

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Regalia Inc.'s perpetual preferred stock sells for $120.75 per share, and it pays an $9.15 annual dividend. If the company were to sell a new preferred issue, it would incur a flotation cost of 8.00% of the price paid by investors. What is the company's cost of preferred stock for use in calrulating the WACC? 8.42% 7.58% 9.15% 9.95% 8.24%

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