The most accurate way to account for flotation costs when issuing new equity to finance a project is to?

Select one:

a.increase the cost of equity capital by dividing it by (1 - flotation cost).

b.increase the cost of equity capital by multiplying it by (1 + flotation cost).

c.None of these options

d.adjust cash flows in the computation of the project NPV by the dollar amount of the flotation costs.