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The following financial information is available on Jacobee Incorporation: Current per share market price: $18.00 Current (t = 0) per share dividend: $1.50 Expected long-term

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The following financial information is available on Jacobee Incorporation: Current per share market price: $18.00 Current (t = 0) per share dividend: $1.50 Expected long-term growth rate: 8.00% Jacobee can issue new common stock to net the company $16.50 per share. Determine the cost of external equity capital using the dividend capitalization model approach. 16.33% 17.00% 17.82% 17.09%

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