Find the best solutions to your questions at Westonci.ca, the premier Q&A platform with a community of knowledgeable experts. Get quick and reliable solutions to your questions from a community of experienced experts on our platform. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform.

torch industries can issue perpetual preferred stock at a price of $63.50 a share. the stock would pay a constant annual dividend of $7.00 a share. what is the company's cost of preferred stock, rp? round your answer to two decimal places.