Nine Point Industries has a capital structure of 40% debit and 60% common equity. This capital structure is expected not to change. The frums tax rate as 21%. The firm an issue the following securities to finance capital investments Debt: Capital can be raised through bank loans at a pretax cost of 0.5%. Also, bonds can be found at a preta cost of 2,6%. Common Stock Retained earnings will be available for investment for addition, new common stock can be issued at the market price of 588 Rotation costs will be $3 per share. The recent common stock dividend was $4.71 Dividends are expected to grow at 3% in the future, What is the firm's cost of external equity? SET YOUR CALCULATOR TO 4 DECIMAL PLACES. PLEASE INPUT THE ANSWER IN PERCENT ROUNDING IT TO ZDECIMALS, DO NOT INCLUDESIGN, E.G. INSTEAD OF 9.9900%, INPUT 9.99