23andMe will issue common stock to the public for $28.13. The expected dividend and the growth in...
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Question:
23andMe will issue common stock to the public for $28.13. The expected dividend and the growth in dividends are $1.65 per share and 5.0%, respectively. If the flotation cost is 8% of the issue's gross proceeds, what is the cost of external equity, re? Answer as a percentage with 2 decimals (i.e. 14.42% as 14.42).
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