Cost of preferred stock Determine the cost for the following preferred stock. (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a...

Extracted text: Cost of preferred stock Determine the cost for the following preferred stock. (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) Par value Sale price Flotation cost Annual dividend $80.00 $72.80 $4.80 11% The cost of preferred stock is %. (Round to two decimal places.)