Debt 56,000 bonds with a 5.0% coupon rate, payable annually, 15 years to maturity, selling at $1,050 per bond. Common Stock 847,000 shares of common stock outstanding. The stock sells for a price of $67 per share and has a beta of 0.52. Preferred Stock 211,000 preferred shares outstanding, currently trading at $72.28 per share; with an annual dividend payment of $8.04, Market The market risk premium is 11% and the risk free rate is 6% Tax Rate 24% What is the cost of common stock (RE)? (Answer as a percentage and round to 2 decimals) Select one:

a. 9.17 % b. 14.04 % c. 9.03 % d. 11.72 % e. 14.98 %