QUESTION 14 A Company's perpetual preferred stock sells for $58.75 pet share, and pay: 59.25 amunt dividend. If the company were to issue a new preferred issue, a flotation cost of 3.50% would be paid to the investment bankers. What is the company's cost of insumg new preferred tock 9.66% 13.20% 16.32% 11 26% 14.70%