Company A has a preferred stock that has an annual dividend of $3.25. If the current price of the preferred stock is $30, what is the cost of the

Company A has a preferred stock that has an annual dividend of $3.25.  If the current price of the preferred stock is $30, what is the cost of the preferred stock?

A. 24.62 percent

B. 10.83 percent

C. 9.08 percent

D. 7.96 percent

E. None of the above