Hi, I just need some help with the second question about finding what the rate of return on the preferred stock is? Thanks!

$59 million 19% 8% semi-annually 20 31% Consider the following company, Book Value of Debt YTM Coupon Coupon Payments Years Corporate Tax Rate of Preferred Shares Price of Preferred Share Dividend per Preferred Shares # of Common Shares Price of Common Share 118 of Common Stock Risk-Free Rate Market Return 1.5 million ||$29 $1.09 10 million $18 0.5 3% 13% What is the market value of the debt? Enter your answer in terms of millions and rounded to 2 DECIMAL PLACES. Enter your response below. 53.57 Correct response: 53.570.03 million Click "Verify" to proceed to the next part of the question. What is the rate of return on the preferred stock? Enter you answer as a percentage and rounded to 2 DECIMAL PLACES. Do not include the percentage sign in your answers