Lyft intends to issue new common stock. The stock is currently trading at $45.00 per share and the dividend this year was $1.50. You know that dividends are expected to grow at rate of 3.5%. If Lyft anticipates to pay 5.00% per share in flotation costs, what is the cost of equity? Use the dividend growth model to determine the cost of equity. Group of answer choices There is not enough information to answer this question. 8.17% 7.65% 7.13% 6.61%