a firm has publicly traded common stock with a current market price of $100 per share. the firm just recently paid a $5.24 annual dividend and just 4 years ago paid a $4.00 annual dividend on its outstanding common stock. the firm is about to issue new common stock at an offer price of $98 per share and will incur flotation costs of $1 per share. the cost of capital for this new issue of common stock is .