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5. Bassett, Ltd. paid a dividend of $1.35 last year on its' shares. The current price of a share is $44.80. The growth rate is

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5. Bassett, Ltd. paid a dividend of $1.35 last year on its' shares. The current price of a share is $44.80. The growth rate is 4%. Flotation costs are $2.25 per share. Find the cost of new common. (3 points)

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