Use the following information about Fox Corp. for problems 7-11. Common stock: 10,000 shares outstanding, $50 per share. Fox will pay a dividend of $2.00 next year and this dividend is expected to grow at 3% per year. Bonds: 1,000 bonds outstanding, with a 3% coupon paid semiannually, 3 years to maturity, and a price quote of 90 per bond. Preferred Stock: 2,000 shares outstanding with annual dividends of $3.00, currently selling at $50. Fox Corp.'s marginal tax rate is 20%. Question 9 (1 point) What is Fox Corp.'s Cost of Preferred Stock