Blue Sky Corporation common stock currently sells for $50 per share. The firm recently paid a dividend of $4.42 per share. Analysts have forecast that earnings and dividends will grow at an average annual rate of 8% per year. Flotation costs for new external equity are $4.25 per share. What is the company's cost of external equity? 20.11% 15.32% 16.25% 17.55% 18.43%