Back to Assignment Attempts: Average: /1 2. Problem 10.02 Click here to read the eBook: Cost of Preferred Stock, rp COST OF PREFERRED STOCK Torch Industries can issue perpetual preferred stock at a price of $75.00 a share. The stock would pay a constant annual dividend of $6.50 a share. What is the company's cost of preferred stock, rp? Round your answer to two decimal places. % Grade it Now Save & Continue Continue without saving