Question 3 4 pts Costly Corporation is considering using external equity financing. Currently, the firm's stock is selling for $60.00 per share. The firm just paid dividend $2.0 (Do) and the annual growth rate is 5.0% indefinitely. If the firm issues new stock, the flotation costs would equal 10.0% of the stock's market value. What is the firm's cost of external equity? 5.35% 8.89% 9.84% 10.12% 4.71%