The company has 100,000 bonds with an 11% coupon rate, payable semiannually, 23 years to maturity, selling at \$1,201 per bond. The company also has 1,500,000 shares of common stock outstanding. The stock sells for a price of $73 per share and has a beta of 1.5 . Additionally, the company has 200,000 preferred shares outstanding, currently trading at $175 per share; with an annual dividend payment of $2.17. The market risk premium is 7% and the risk free rate is 3.1%. The tax rate is 21%. What is the cost of common stock? 4.34% 13.60% 12.20% 10.10% 1.24%