Villalpando Winery wants to raise $25 million from the sale of preferred stock. If the winery wants to sell one million shares of preferred stock, what annual dividend will it have to promise if...

Extracted text: Villalpando Winery wants to raise $25 million from the sale of preferred stock. If the winery wants to sell one million shares of preferred stock, what annual dividend will it have to promise if investors demand a return of a. 11%? b. 15%? C. 9%? d. 10%? e. 5%? f. 4%? a. What annual dividend will it have to promise if investors demand a return of 11%? (Round to the nearest cent.)