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(Cost of equily) Brile Corporation is issuing new common stock at a market price of $26. Dividends last year were $1.20 and are expecied to

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(Cost of equily) Brile Corporation is issuing new common stock at a market price of $26. Dividends last year were $1.20 and are expecied to prow at an annual nate of 9 percerd forewer. Flobke costs will bo 8 percent of market price. What is Brite's cost of equity? Brilles cost of axternal common ecuity is 4. (Roond to two decimal places.)

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