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(Cost of equity) Brille Corporation is issuing new common stock at a market price of $35. Dividends last year were 51.70 and are expecled to

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(Cost of equity) Brille Corporation is issuing new common stock at a market price of \$35. Dividends last year were 51.70 and are expecled to grow at ain arnual rale of 6 percent forever. Flotation costs will be 7 percent of market price. What is Brille's cost of equity? Brille's cost of extemal common equity is \%. (Round to ho decimal places.)

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