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8. Problem 10.14 (Cost of Preferred stock including Fotation) Travis Industries plans to issun perpetual preleted stock with an s11. 00 dividend. The steck is

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8. Problem 10.14 (Cost of Preferred stock including Fotation) Travis Industries plans to issun perpetual preleted stock with an s11. 00 dividend. The steck is currenthy selling for $91.50, but flotation costs wil be 10. of the market price, so the net peke ail be 43235 per share. What is the cest of the peeferred stodk, incluting fotation? flound your ansant to two decimal places

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