A firm is raising capital with preferred stock. They will issue preferred shares at a par...

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A firm is raising capital with preferred stock. They will issue preferred shares at a par value of $81, but due to issuing costs, the shareholders will pay $1.91 less than the par value of the shares. The preferred shares will have a dividend of $5.48. What is the cost of financing the preferred shares for the company? Do not round any intermediate calculations. Report it as a whole number and round your answer to two decimal points. For example, if your answer is 17.857321%, you would type in 17.86 as your answer. A firm is raising capital with preferred stock. They will issue preferred shares at a par value of $81, but due to issuing costs, the shareholders will pay $1.91 less than the par value of the shares. The preferred shares will have a dividend of $5.48. What is the cost of financing the preferred shares for the company? Do not round any intermediate calculations. Report it as a whole number and round your answer to two decimal points. For example, if your answer is 17.857321%, you would type in 17.86 as your answer.