Problem 13-6 Cost of Preferred Stock (LO2) Pangbourne Whitchurch has preferred stock outstanding. The stock pays a dividend of $16 per share, and sells for $80. What is the percentage cost of the preferred stock? (Enter

Problem 13-6 Cost of Preferred Stock (LO2)

Pangbourne Whitchurch has preferred stock outstanding. The stock pays a dividend of $16 per share, and sells for $80. What is the percentage cost of the preferred stock? (Enter your answer as a whole percent.)

Cost of preferred stock

%

answer as a whole percent.) Cost of preferred stock %