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(Cost of prefered stock) Your firm is planning to issue preferred stock. The stock sells for 5121 ; however it new stock is assued, the

(Cost of prefered stock) Your firm is planning to issue preferred stock. The stock sells for 5121 ; however it new stock is assued, the company would rececve only $10164. The par value of the stock is $100, and the dividend rate is 15 percent What is the cost of capital for the stock to your firm? The cost of capalal for the preferred stock to your firm is 5. (Round to two docinal places)

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