(Cost of internal equity) Pathos Co. S common stock is currently selling for $29.72. Dividends paid last ear were $1.50.

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(Cost of internal equity) Pathos Co. S common stock is currently selling for $29.72. Dividends paid last ear were $1.50. Flotation costs on issuing stock will be 12
percent of market orice. The dividends and earninas per share are dI
olected to have an annual growth rate of 9 percent. What is the cost of internal common equitv
for Pathos?
The cost of internal common equity for Pathos is %. (Round to two decimal places.)