Question $6$: The $15\mathrm{.}50$ percent preferred stock of Ajax Unlimited is selling for $$93\mathrm{.}70$ a share. What is

the cost of preferred stock if the risk$-$free rate is $4\mathrm{.}65$ percent?

Multiple Choice

$16\mathrm{.}54$ percent

$20\mathrm{.}34$ percent

$15\mathrm{.}60$ percent

$19\mathrm{.}73$ percent