Weaver Chocolate Co. expects to earn $3.50 per share during the current year, its expected dividend payout ratio is 65%, its expected constant dividend growth rate is 6.0%, and its common stock currently sells for $50.00 per share. New stock can be sold to the public at the 10.79%

13.38%

10.68%

12.73%

9.28%

price, but a flotation cost of 5% would be incurred. What would be the cost of equity from new common stock?