Blossom Hand Trucks has a preferred share issue outstanding that pays a dividend of $1.30 per year. The current cost of prefer equity for Blossom is 10.90 percent. If Blossom issues additional preferred shares that pay exactly the same dividend and the investment banker retains 8.50 percent of the sale price. Problem 13.31 a1-a2 (Solution Video)(a1) Your answer is correct. What is the price of preferred shares before the new issues? (Round final answer to 2 decimal places, e.g. 15.25\%.) Current price of preferred shares What is the cost of the new preferred shares for Blossom? and final answer to 2 decimal places, e.g. 15.25\%.) Cost of new preferred shares for Blossom %