Your firm is planning to issue preferred stock. The stock sells for $122; however, if new stock is issued, the company would receive only $108.58. The par value of the stock is $100, and the dividend rate is 13 percent. What is the cost of capital for the stock to your firm? (Round to two decimal places.) A. 9.85% B. 11.97% C. 14.22% D. 16.98

Your firm is planning to issue greferred stock, The stock selis for $122; however, it new stock is issued, the company would recene only $108.58. The par value of the stock is $100, and the dividend rate is 13 petcent. What is the cost of capital for the stock to your firm? inound to two decimal plsces) A. 9.05% B. 1197% C. 1422% D 1096