Annette's Travel Incorporated plans to issue preferred stock at a price of $50 per share. The dividend will be $4.30 per share, and issuance costs are expected to be $3.00 per share. What is the cost to Annette's Travel of raising funds with preferred stock?
A. 19.15%
B. 10.95%
C. 13.33%
D. 9.15%