ment: Chapter 9: Cost of Capital ent Score: 28.57% Instructor Submit Assignment for Grading Exit ons Problem 9-13 Question 7 of 8 Check My Work eBook Problem 9-13 The Cost of Equity and Flotation Costs Messman Manufacturing will issue common stock to the public for $25. The expected dividend and the growth in dividends are $2.25 per share and 4 % , respectively. If the flotation cost is 13% of the issue's gross proceeds, what is the cost of external equity, re? Round your answer to two decimal places. % 10.33 Hide Feedback Incorrect Check My Work