Blue Sky Corporation has a capital structure of 40% debt and 60% common equity. This capital structure is expected not to change. The form's tax rate is 21%. The hem can be the following securities to finance capital investment Debt Capital can be rated through bank loans at a preta cost of 98%. Also, bonds can be issued at a pretax cost of 8.8% Common Stock Butained earnings will be available for investment. In addition, new common stock can be issued at the market price of $75. Flotation costs will be $2 per share the recent common stock dividend was 54.91. Dividends are expected to grow at 5% in the future. What is the few's cost of external equity! PLEASE INPUT THE ANSWER IN PERCENT ROUNDING IT TO 2 DECIMALS. DO NOT INCLUDE SIGN EGINSTEAD OF 9.99% INPUT 9.99