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Can you Please help me solve the attached question! Problem 9-5 (similar to) iQuestion Help (Cost of preferred stock) The preferred stock of Texas Southern

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Can you Please help me solve the attached question!

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Problem 9-5 (similar to) iQuestion Help (Cost of preferred stock) The preferred stock of Texas Southern Power Company sells for $44 and pays $7 in dividends. The net price of the security after issuance costs is $40.04. What is the cost of capital for the preferred stock? The cost of capital for the preferred stock is |%. (Round to two decimal places.)

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