Cost of preferred stock Taylor Systems has just issued preferred stock. The stock has a 8% annual dividend and a $100 par value and was sold at $99.50 per share. In addition, flotation costs of $1.50 per share were paid. Calculate the cost of the preferred stock. The cost of the preferred stock is%. (Round to two decimal places.) Cost of preferred stock Determine the cost for the following preferred stock. (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) Annual divider Flotation cost 9.00 Sale price $101.00 Par value 11% 100 00 510100$8 %. (Round to two decimal places.) The cost of preferred stock is