A company just paid a $3.6 per share dividend on its common stock (DO = $3.6). The dividend is expected to grow at a constant rate of 1.9 percent per year. The stock currently sells for $47 a share. If the company issues additional stock, it must pay its investment banker a flotation cost of $1 per share. What is the cost of external equity, re? 10.41% 9.51% 9.8796 O 9.71% O 10.17%