Question 20 (2 points) CTL Corporation has 30% of its financing in preferred shares. The shares are currently trading at a market price of $55. The book value of the shares is $60, and they pay a dividend of $4.05. CTL's corporate tax rate is 35%. What is the cost of preferred stock to the company? 4.39% O 4.79% 6.75% 7.36%