Frite Industries plans to issue a S100 par perpetual preferred stock with a fixed annual dividend of 12 percent of par. It would sell for $97.80, but flotation costs would be 5 percent of the market price What is the percentage cost of preferred stock after taking flotation costs into account? Select one a 12.929 O b. 12. 27N c. 11.66% O d. 11.449 0.14.3