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6. Boer Inc. expects to pay a dividend 1.7 in one year, it's current stock price is 15.0. and its dividend growth rate is 0.04.

6. Boer Inc. expects to pay a dividend 1.7 in one year, it's current stock price is 15.0. and its dividend growth rate is 0.04. If Boer's investment bankers charge a flotation cost of 0.05 as a fraction of the price of a new stock issue, what is Boer's cost of issuing new equity?

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