Firm XYZ has $6\mathrm{.}5$ percent preferred stock outstanding that is currently selling for $$27$ a share. The market rate of return is $14$ percent and the tax rate is $21$ percent. What is the cost of preferred stock if its stated value is $$100$ per share? Rp$=$ Dividends$/$PriceHint: The dividends for preferred stock are typically calculated as a percentage of the stated value $($or par value$).$ In this case, the preferred stock has a $6\mathrm{.}5\%$ dividend rate and a stated value of $$100$ per share. Therefore, the annual dividends per share are calculated by:Dividends per share $=$ Dividend rate x Stated valueA$)14\mathrm{.}00\%$B$)24\mathrm{.}07\%)19\mathrm{.}02\%$D$)11\mathrm{.}06\%$O A B D