Question 46 2.75 pts Jarett & Sons's common stock currently trades at $38.00 a share. It is expected to pay an annual dividend of $2.44 a share at the end of the year (D1 = $2.44), and the constant growth rate is 5% a year. If the company issued new stock, it would incur a 13% flotation cost. What would be the cost of equity from new stock? 12.38% 14.86% 11.14% 9.90%