need help with 22 and 23

Question 22 (4 points) Costly Corporation is considering a new preferred stock issue. The preferred would have a par value of $600 with an annual dividend equal to 15.0 % of par. The company believes that the market value of the stock would be $442.00 per share with flotation costs of $18.00 per share. The firm's marginal tax rate is 40 %. What is the firm's cost of preferred stock? 23.33% 20.36% 21.23% 18.96% 17.19% Question 23 (4 points) Costly Corporation is considering using equity financing. Currently, the firm's stock is selling for $55.00 per share. The firm's dividend for next year is expected to be $3.40 with an annual growth rate of 5.0% thereafter indefinitely. If the firm issues new stock, the flotation costs would equal 14.0 % of the stock's market value. The firm's marginal tax rate is 40%. What is the firm's cost of external equity? 11.49% 11.18%