4. Jamuna Resort Ltd. has preferred stock having a face value of Tk. 4,500. At present, the company is paying an 11.5% dividend of its preferred stock. The maturity period is 12 years. At maturity, the share will be redeemable at a 9.5% discount; the flotation cost is 5.5%. Currently, the selling price is Tk. 3,850. Estimate the cost of preference share if shares- (CO2] 6.5 (a) Sold at Par (b) Sold at 6.5% discount