Use the following data for the next 5 questions: Debt 38.000 bonds with a 5.0% coupon rate. payable annually, 15 years to maturity, selling at $1,050 per bond. Common Stock 746,000 shares of common stock outstanding. The stock sells for a price of $44 per share and has a beta of 1.65. Preferred Stock 117,000 preferred shares outstanding, currently trading at $84.61 per share; with an annual dividend payment of $8.39, Market The market risk premium is 24% and the risk free rate is 5% Tax Rate 34% What is the cost of preferred stock (Rp)? (Answer as a percentage and Select one: a. 13.63% O b.6.87 % c. 7.65 % d. 11.70 % O e. 9.92 %