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1. A common stock paid a $5.60 dividend last year. The stock has a price of $115 and float costs of $13.25. The growth rate

1. A common stock paid a $5.60 dividend last year. The stock has a price of $115 and float costs of $13.25. The growth rate of the stock is 6.5%. Calculate the cost of new common stock.

2. Based on the information in number 3, calculate the cost of retained earnings.

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