The cost of raising capital through retained earnings is the cost of raising capital through issuing new common stock. The yield on a three-month T-bill is 3.12%, and the yield on a 10-year T-bond is 4.23%. the market risk premium is 6.17%. the Burris Company has a beta of 1.56. Using the Capital Asset Pricing Model (CAPM) approach, Burris's cost of equity is. The Hoover Company is closely held and, therefore, cannot generate reliable inputs with which to use the CAPM method for estimating a company's cost of internal equity. Hoover's bonds yield 10.28%, and the firm's analysts estimate that the firm's risk premium on its stock over its bonds is 5.89. Based on the over-own-bond-yield judgmental risk premium approach, Hoover's cost of internal equity is: 19.40% 17.79% 16.17% 20.21% Kirby Enterprises' stock is currently selling for $25.67 per share, and the firm expects its per-share dividend to be $1.38 in one year. Analysts project the firm's growth rate to be constant at 7.27%. Using the cost of equity using the discounted cash flow (or dividend growth) approach, what is Kirby's cost of internal equity? 15.81% 17.08% 13.28% 12.65%