Bonds: Builtrite is planning on offering a $1000 par value, 20 year, 7% coupon bond with an expected selling price of $1025. Flotation costs would be $55 per bond. Preferred Stock: Builtrite could sell a $46 par value preferred with a 7% coupon for $38 a share. Flotation costs would be $6 a share. Common stock: Currently, the stock is selling for $62 a share and has paid a $4.82 dividend. Dividends are expected to continue growing at 12%. Flotation costs would be $3.75 a share and Builtrite has $350,000 in available retained earnings. Assume a 35% tax bracket. Their after-tax cost of new common is: 21.97% 21.27% 20.84% 20.55%