8. Jiffy Co. expects to pay a dividend of $2.00 per share in one year. The current price of Jiffy common stock is $28 per share. Flotation costs are $ What is the cost of internal common equity (retained earnings) if the long-term growth in dividends is projected to be 7 percent indefinitely? a. 13.37% b. 14.14% c. 15.06% d. 16.23% 9. Aphid Corp. will finance its next major expansion with 40% debt, 10% preferred stock, and 50% retained earnings. Aphid's after-tax cost of debt is 6%, cost of preferred stock is 8%, and cost of retained earnings is 12%. What is the corporation's weighted average cost of capital? b. 10.4% c. 9.2%