4. Tahem Baking Co. common stock sells for $32.50per share. It expects to cam $3.50%per share payout ratio is.65%, and its expected during the current year, its ex constant dividend growth rate if 60% New stock can be sold to the public at the current price, but a flotation cost o(5% would be incurred. What would be the cost of equity from new common stock Dividend = 3.5X-65