Question: Question 24 (3 points) Preferred stock A has par value of $100. It is sold for $104.Flotation cost is $7. Dividend is 9%. Calculate the

Question 24 (3 points) Preferred stock A has par value of

Question 24 (3 points) Preferred stock A has par value of $100. It is sold for $104.Flotation cost is $7. Dividend is 9%. Calculate the cost of preferred stock. (format of the answer: use percentage form with 2 decimal places, i.e. 6.20% is correct format, not 0.062, not 6.2%) A

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