Assuming there is 5 cost to be incurred in issuing per share, how much is the current cost of equity?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter7: Common Stock: Characteristics, Valuation, And Issuance
Section: Chapter Questions
Problem 5P
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The dividend per share was 27 last year while the current market price of the shares is 135. The growth rate of equity is expected to be 8%. 

Assuming there is 5 cost to be incurred in issuing per share, how much is the current cost of equity?

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