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Geo's Preferred stock currently trades at $102 per share. The par value of the stock is $100 and it pays a 6.5% annual dividend. If

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Geo's Preferred stock currently trades at $102 per share. The par value of the stock is $100 and it pays a 6.5% annual dividend. If the company were to sell a new preferred issue, it would incur a flotation cost of 3.5% of the market price. What is company's cost of preferred stock? 6.83% O 6.37% 3.57% 6.60%

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