Glasgow Engineering issued common stock at $48.25 and incurred transaction costs equal to 5% of the stock price. The firm recently paid annual dividends of $1.25, which is expected to grow at a constant rate of 10% each year. What is the firm's cost of external equity? Multiple Choice O 14.15 percent O 13.60 percent 13.95 percent O 13.00 percent 12 85 percent