RetRyder Hand Trucks has a preferred share issue outstanding that pays an annual dividend of $1.30 per year. The current cost of preferred equity for...

RetRyder Hand Trucks has a preferred share issue outstanding that pays an annual dividend of $1.30 per year. The current cost of preferred equity for RetRyder is 7.80 percent. If RetRyder issues additional preferred shares that pay exactly the same dividend and the investment banker retains 7.50 percent of the sale price proceeds, what is the cost of new preferred shares for RetRyder?1. Current price of preferred shares = $__________2. Cost of new preferred shares for RetRyder =________%