please help woth the following question

Trahern Baking Co. common stock sells for $32.50 per share. It expects to earn $3.50 per share during the next year, its expected dividend payout ratio is 65%, and its expected constant dividend growth rate is 6.0%. New stock can be sold to the public at the current price, but a flotation cost of 15% would be incurred. What would be the cost of equity from new common stock? 14.24% 18.67% 19.43% 13.00% 14.73%