answer the last question please (cost of preffered equity)

The Crane Products C0, currently has debt with a market value of $250 million outstanding. The debt consists of 9 percent coupon bonds (semiannual coupon payments) that have a maturity of 15 vears and are currently priced at 51.418 .61 per bond. The firm also has an issue of 2 million preferred shares outstanding with a market price of $10.00 per share. The preferred shares pay an annual dividend of $1.20. Crane also has 14 million shares of common stock outstanding with a price of $20.00 per share. The firm is expected to pay a $2.20 common dividend one year from today, and that dividend is expected to increase by 5 percent per year forever. If Crane is subject to a 28 percent marginal tax rate. Excel Template (Note: This template includes the problem statement as it appears in your textbook. The problem assigned to you here may have different values. When using this template, copy the problem statement from this screen for easy reference to the values you've been given here, and be sure to update any values that may have been pre-entered in the template based on the textbook version of the problem.) Calculate the weights for debt, common equity, and preferred equity (Round final answers to 4 decimal places, es 1.2514) Debt Preferred equity Commonequity eTextbook and Media Attempts: 2 of 3 usec Problem 13.24a1-a5 (Excel Video)(a2) Calculate the cost of debt. (Round intermediate calculations to 4 decimal places, es, 1.2514 and final answer to 2 decimal ploces, es. 15.25% ) Calculate the cost of preferred equity, (Round intermediate calculations to 4 decimal places, eg 1.2514 and final answer to 2 decimal niaces e o 15.25\%) Cost of preferred equity %