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The common stock of UBees.com is currently sold at $22.76 per share, and it just a dividend of $1.10 last year. The flotation costs on

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The common stock of UBees.com is currently sold at $22.76 per share, and it just a dividend of $1.10 last year. The flotation costs on issuing new stock is estimated to be 12% of the market price. The dividends and earnings are projected to grow at 7% annually. What is UBees.com's cost of internal common equity? The UBees' cost of internal common equity is %. (Round to two decimal places.)

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