Princeps Corp has just paid out a per-share dividend of $4.08 on its common stock. Analysts project that these dividends will grow at a constant rate of 3.15% for the foreseeable future. Each share of Princeps common is currently trading at $62. This implies that the marginal cost of common equity for Princeps is:

24.67%

19.67%

13.37%

9.94%

21.78%