Please include excel formulas as well

A B 3 Cost of preferred stock. Determine the cost for each of the following preferred stocks. 4 Preferred stock 5 Flotation Annual Par value Sale price cost dividend $ 100 $ 101 $ 9.00 11% 40 38 $ 3.50 8% 35 37 $ 4.00 $ 5.00 30 26 5% of par $ 3.00 20 20 $ 2.50 9% 7 A B D E 8 9 10 11 12 Solution 13 14 15 $ $ $ 16 Stock A Par value Sale price Flotation cost Annual dividend Dividend payment Proceed from sale Cost of preferred stock 100 101 9.00 11% 17 18 19 20 21 22 23 40 24 $ $ S 25 Stock B Par value Sale price Flotation cost Annual dividend Dividend payment Proceed from sale Cost of preferred stock 38 3.50 8% 26 27 28 29 30 A B 32 33 $ $ 34 Stock C Par value Sale price Flotation cost Annual dividend Proceed from sale Cost of preferred stock 35 37 4.00 5.00 35 $ $ 36 37 38 39 40 41 $ $ 30 26 5% 42 43 Stock D Par value Sale price Flotation cost % of par) Flotation cost Annual dividend Proceed from sale Cost of preferred stock 44 S 3.00 45 46 47 48 49 s 20 50 S 51 S Stock E Par value Sale price Flotation cost Annual dividend Dividend payment Proceed from sale Cost of preferred stock 20 2.50 9% 52 53 54 55 56