Grill Works has 6 percent preferred stock outstanding that is currently selling for $49 a share. The market rate of return is 14 percent and the tax rate is 21 percent. What is the cost of preferred stock if its stated value is $100 per share

The cost of preferred stock if its stated value is $100 per share is 12.24%.

Cost of preferred stock refers to a rate that company must pay its investors to persuade them to invest in the available preferred shares.

Cost of preferred stock = (0.06 * $100) / $49

Cost of preferred stock = $6/$49

Cost of preferred stock = 0.1224

Cost of preferred stock = 12.24%

Therefore, the cost of preferred stock if its stated value is $100 per share is 12.24%.

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