Skyler Industries' preferred stock currently sells for $40 per share. The stock pays an annual dividend of $3.34 per share. The cost of preferred stock, Rp, is %. Round your final answer to 2 decimal places (example: enter 12.34 for 12.34%), but do not round any intermediate work in the process. [Note: Correct answer feedback may show more than 2 decimal places, but you should still follow instructions above for entering your answers.] Margin of error for correct responses: +/- .05 (%).