a. Distinguish between a firm choosing to finance its operations through the use of internal common equity through the retention of firm earnings) and external common equity (through the sale of new shares of common stock) b. Why is there a cost associated with internal common equity? c. Describe two approaches that could be used in computing the cost of common equity. a. Distinguish between a firm choosing to finance its operations through the use of internal common equity (through the retention of firm eamings) and external common equity (through the sale of new shares of common stock). (Type your answer below.)