Y RURY Remaining Time: 1 hour, 08 minutes, 18 seconds. Question Completion Status: 25 30 40 SD 6 70 8 100 11 12 13 14 15 A Moving to another question will save this response. Question 13 10 points Save Answ The company has 50,000 bonds with a 5% coupon rate paid annually. All the bonds will mature in 15 years and are currently selling at $1.050 per bond. The company also has 1,000,000 shares of common stock outstanding in the market. The stock sells at $65 per share and has a beta of 1.1. Further, there are 150,000 shares of preferred stock outstanding with each share trading at $90. The preferred stock pays an annual dividend of $6.50 per share. The firm pays a tax rate of 3546. The market risk premium is 76 and the risk free rate is 2.56. What is the cost of preferred stock for the company? a. 7.2296 b.7.06% C. 8.40 d. 6.05M Moving to another question will save this response. Question 13 of 15 8:58 AM 7/1/2020