Expected cash dividends are $2.00, the dividend yield is 6%, fotetion costs are 7% of price, and the gromth rate is 2%. Compute the approximate cost of new common stock. Note: Do not round intermedlate calculations. Round your answer to 2 decimal places. Multiple Choice 9.45% 10.55% 8.45% 820% Expected cash dividends are $2.00, the dividend yield is 6%, fotetion costs are 7% of price, and the gromth rate is 2%. Compute the approximate cost of new common stock. Note: Do not round intermedlate calculations. Round your answer to 2 decimal places. Multiple Choice 9.45% 10.55% 8.45% 820%