QUESTION 1 10 points Save Answer A company's perpetual preferred stock currently sells for $70.00 per share, and it pays an $8.00 annual dividend. If the company were to sell a new preferred issue, it would incur a flotation cost of 5.00% of the issue price, what is the firm's cost of preferred stock? 11.91% O b. 9.26% . 11.07% 0 d. 13.35% e. 12.03% QUESTION 2 10 points Save Answer Thorley Inc. is considering a project that has the following cash flow data. What is the project's IRR? Note that a project's projected IRR can be less than the WACC or negative, in both cases it will be rejected. Year0 Cash flows -$1,100 $325 $325 $325 $325 $325 . 14.59% b. 16.35% . 14.45% Od. 13.57%