Nature Food Inc. needs to estimate the cost of financing on preferred stock. The firm has preferred stock outstanding that pays a constant dividend of $2.63 per year. That preferred stock is currently selling for $68.57. However, the underwriter would charge flotation costs of $4.56 per share. What is the form's cost of preferred stock financing? Round the answers to two decimal places in percentage form. (Write the percentage sign in the "units" box) Your