Bosio Inc.'s perpetual preferred stock sells for $75.56 per share, and it pays an $6.1 annual dividend. What is the company's cost of preferred stock for use in calculating the WACC? Show 2 decimals in your answer. E.g . 9.99 %.

Butcher Timber Company hired your consulting firm to help them estimate the cost of equity. The yield on the firm's bonds is 6.8%, and your firm's economists believe that the cost of equity can be estimated using a risk premium of 4.9% over a firm's own cost of debt. An estimate of the firm's cost of equity from retained earnings ____ %. Show 1 decimal. E.g. 9.9%