Builtrite's common stock is currently selling for $101 a share and the firm just paid an annual dividend of $7.80 per share. Management believes that dividends and earnings should grow at 6% annually. Since new stock would need to be sold to finance an expansion, Builtrite expects flotation costs to be 5% of the expected selling price of $95 a share. Based on this, and a marginal tax rate of 34%, what is the cost of the new common stock ?

A. 15.16%

B. 10.01%

C. 9.66%

D. 14.64%