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22) Expected cash dividends are $4.00, the dividend yield is 6%, flotation costs are 5% of price, and the growth rate is 4%. Compute the

22) Expected cash dividends are $4.00, the dividend yield is 6%, flotation costs are 5% of price, and the growth rate is 4%. Compute the approximate cost of new common stock. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

  • 10.07%

  • 12.42%

  • 11.32%

  • 10.32%

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