Save Answer A Moving to another question will save this response. Question 15 of 21 Question 15 1 points A perpetual preferred stock sells for $65.00 per share, and it pays an $6.50 annual dividend. If the company were to sell a new preferred issue, it would incur a flotation cost of 6.50% of the price paid by investors. What is the company's cost of preferred stock for use in calculating the WACC? O 10.70% 2.67% 06.50%