builtrite is planning on offering a $1000par value 20 years, 7% coupon bond with an expected selling price of $1025. flotation costs would be $55 per bond. preferred stock: Burtrite could sell a $46 par value preferred with a 7%couponn for $38 a share. Flotation cost would be $4 a share. common stock currently the stock is selling for 62$ a share and has paid a $3.82 dividend. dividends are expected to keep growing at 12% floatation costs would be $3.75 a share and Builtrite has $350,000 in retained earnings. Assume a 30% tax bracket. Their after-tax cost of preferred stock is? I need the whole solution ASAP!!!

A. 7.82%

B. 8.90%

C. 9.47%

D. 10.65%