Your company's stock sells for $37 per share, the next dividend (D1) will be $2.4, its growth rate is a constant 4 percent, and the company will incur a flotation cost of 12 percent if it sells new common stock. What is the firm's cost of new equity, re? 8.37% O 12.37% O 11.37% O 9.37% O 10.37%

Your company's stock sells for $37 per share, the next dividend (D1) will be $2.4, its growth rate is a constant 4 percent, and the company will incur a flotation cost of 12 percent if it sells new common stock. What is the firm's cost of new equity, re? 8.37% 12.37% 11.37% 9.37% 10.37%