A company$$s perpetual preferred stock currently sells for $$127\mathrm{.}50$ per share, and it pays an $$8\mathrm{.}00$ annual dividend. If the company were to sell a new preferred issue, it would incur a flotation cost of $5\mathrm{.}00\%$ of the issue price. What is the firm's cost of preferred stock? $6\mathrm{.}60\%5\mathrm{.}88\%8\mathrm{.}26\%8\mathrm{.}06\%6\mathrm{.}87\%$