Question: Can I have work shown step by step too? Thanks A company's perpetual preferred stock currently sells for $127.50 per share, and it pays an

Can I have work shown step by step too? Thanks

A company's perpetual preferred stock currently sells for $127.50 per share, and it pays an $8.00 annual dividend. If the company were to sell a new preferred issue, it would incur a flotation cost of 5.00% of the issue price. What is the firm's cost of preferred stock? a. 6.60% b. 6.87% c. 8.26% d. 8.06% e. 5.88%

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