If the current price of fjord preferred shares is 11661, Financial Management

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If the current price of fjord preferred shares is 11661

Fjord Luxury Liners has preferred shares outstanding that pay an annual dividend equal to $15 per year. If the current price of Fjord preferred shares is $116.61, what is the after-tax cost of preferred stock for Fjord? (Round intermediate calculations to 4 decimal places, e.g. 1.2514 and final answer to 2 decimal places, e.g. 15.25%.)

After-Tax xost of preferred stock_________%

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Financial Management: If the current price of fjord preferred shares is 11661

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