Final answer:
The cost of newly issued preferred stock for a company can be calculated using the dividend yield method, which requires knowledge of the annual dividend and the price paid per share. Without specific details about the dividend and price of stock for Coral Inc., the answer cannot be provided accurately.
Step-by-step explanation:
The question pertains to calculating the cost of newly issued preferred stock for a company.
In order to calculate the cost of newly issued preferred stock, one needs to know the dividend to be paid on the stock, the net proceeds from issuing the stock, and any other relevant financial information, which is currently not provided in the details. Calculating the cost involves determining the dividend yield based on the price paid for the stock and the dividend paid. For example, if the price paid for the stock is $100 per share and the annual dividend is $8 per share, the cost of the preferred stock would be the dividend divided by the price, or $8/$100 = 8%.
However, since the essential details for calculating the cost are missing in the provided information, we would need further data from the student to proceed with the calculation.