Current Attempt in Progress Crane Hand Trucks has a preferred share issue outstanding that pays a dividend of $1.30 per year. The current cost of preferred equity for Crane is 10.10 percent. If Crane issues additional preferred shares that pay exactly the same dividend and the investment banker retains 5.60 percent of the sale price. Problem 13.31 a1-a2 (Solution Video)(a1) Your answer is correct. What is the price of preferred shares before the new issues? (Round final answer to 2 decimal places, e.g. 15.25%.) Current price of preferred shares $ 12.87 eTextbook and Media Attempts: 1 of 3 used Problem 13.31 a1-a2 (Solution Video)(a2) What is the cost of the new preferred shares for Crane? (Round intermediate calculations to 4 decimal places, e.g. 1.2514 and final answer to 2 decimal places, e.g. 15.25%.) Cost of new preferred shares for Crane eTextbook and Media Save for Later % Attempts: 0 of 3 used Submit Answer