31. Royal Mediterranean Cruise Line's common stock is selling for $55.83 per share. T last dividend was $3.26, and dividends are expected to grow at a 6% annual rate for the forseeable future. Flotation costs on new stock sales are 12% of the selling price. What the cost of Royal's new common stock? a. 7.65% b. 9.86% C. I 0.1 5% d. 13.03% 32. If Daru deposits $19,074 into a bank account that pays 8.46% interest compounded quarterly, what will the account balance be in 7 years? a. $34,272.75 b. $31,354.37 c. $26,605.30 d. $25,063.86