Asian Trading Company paid a dividend yesterday of $4 per share (D0 = $4). The dividend is expected to grow at a constant rate of 7% per year. The price of Asian Trading Company's stock today is $25 per share. If Asian Trading Company decides to issue new common stock, flotation costs will equal $3 per share. Asian Trading Company's marginal tax rate is 35%. Based on the above information, the cost of retained earnings is ________. Answer A)23.00% B)17.12% C)26.45% D)24.12%