Carlton Resort Inc. expects to pay a common stock dividend of $2.00 this year. dividends are expected to grow at a 4% rate for the for seeable future. Carlton's common stock is selling for $20 per share and insurance costs are $5.00 per share. What is Carlton's cost of external equity?

Carlton Resorts, Inc. expects to pay a common stock dividend of $2.00 this year. Dividends are expected to grow at a 4% rate for the foreseeable future. Carlton's common stock is selling for $20.00 per share and issuance costs are $5.00 per share. What is Carltons' cost of external equity? 17.87% 17.95% 17.11% 17.33%