Teri's Tires has $7$ percent preferred stock outstanding that sells for $$68$ a share. The preferred stock has a $$100$ par value. What is Teri's cost of preferred stock?

$9\mathrm{.}71$ percent

$11\mathrm{.}76$ percent

$10\mathrm{.}78$ percent

$9\mathrm{.}52$ percent

$10\mathrm{.}29$ percent