Use the information to answer the following questions. The Global Advertising Company has a marginal tax rate of 30%. The company can raise debt at 10% interest rate. The last dividend paid by Global was $2. Global's common stock is selling for $20 per share, and its expected growth rate in earnings and dividends is 8%. Global plans to finance all capital expenditures with 20% debt and 80% equity. What is the firm's weighted average cost of capital if the firm has sufficient retained earnings to fund the equity portion of its capital budget? Select one: a. 15.70% b. 16.44% c. 13.95% d. 12.37% e. 11.59% Continued from previous question. Assume that the floatation cost of new stock issuing is 1.5%. What is Global's cost of common stock if it has to issue new common stock? Select one: a. 19.65% b. 18.96% c. 18.65% d. 17.78% e. 16.23%