Crane Luxury Liners has preferred shares outstanding that pay an annual dividend equal to $18 per year. If the current price of Crane preferred shares is $90.00, what is the cost of preferred stock for Crane? (Round answer to O decimal places, e.g. 15%.)

Crane Luxury Liners has preferred shares outstanding that pay an annual dividend equal to $18 per year. If the current price of Crane preferred shares is $90.00, what is the cost of preferred stock for Crane? (Round answer to 0 decimal places, es. 15\%.) Cost of preferred stock %