Quesul IV Problem 10.14 (Cost of Preferred Stock including Flotation) Check My Work (1 remaining) B eBook Travis Industries plans to issue perpetual preferred stock with an $11.00 dividend. The stock is currently selling for $96.50, but flotation costs will be 5% of the market price, so the net price will be $91.68 per share. What is the cost of the preferred stock, including flotation? Round your answer to two decimal places. % Check My Work (1 remaining) 6 10/ hp