Future Gadgets inc. expects to pay a dividend of $6.62 per share in one year. The current price of future gadgets common stock is $54.93 per share. Flotation costs for issues of new common stock are 10% of market price. What is the cost of internal common equity (retained earnings) if the long term growth in dividends is projected to be 5% indefinitely? 17.05% 15.82% 12.52% 9.95%