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Pickwick Corporation common stock currently sells for $42 per share. The firm recently paid a dividend of $4.12 per share. Analysts have forecast that earnings

Pickwick Corporation common stock currently sells for $42 per share. The firm recently paid a dividend of $4.12 per share. Analysts have forecast that earnings and dividends will grow at an average annual rate of 6% per year. Flotation costs for new external equity are $4.50 per share. What is the company's cost of external equity? 15.61% 20.82% 12.84% 16.40% 17.65%

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