There are different ways to fund your company using equity and debt. As the CFO of 82 Financial, you have decided preferred stock will get you the capital you need without giving up voting rights. Your board of directors committed to pay a dividend per share of $710 for the foreseeable future. The stock is curretly trading at $76 per share. What is your company's cost of preferred stock? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 12.34.) Cost of preferred stock