Consider the following company, Book Value of Debt YTM Coupon Coupon Payments Years Corporate Tax Rate # of Preferred Shares Price of Preferred Share Dividend per Preferred Shares # of Common Shares Price of Common Share 8 of Common Stock Risk-Free Rate Market Return $64 million 10% 10% annually 20 35% 1.5 million $23 $1.44 9 million $18 0.7 4% 11% What is the rate of return on the preferred stock? Enter you answer as a percentage and rounded to 2 DECIMAL PLACES. Do not include the percentage sign in your answers. Enter your response below. Number Click "verify" to proceed to the next part of the