7. The cost of new common stock A firm needs to take flotation costs into account when it is raising capital from issuing new common stock Alpha Moose Transporters has a current stock price of $22.35 per share, and is expected to pay a per-share dividend of $1.36 at the end of next year. The company's earnings and dividends' growth rate are expected to grow at the constant rate of 8.70% Into the foreseeable future. If Alpha Moose expects to incur flotation costs of 6.50% of the value of its newly-raised equity funds, then the flotation-adjusted (net) cost of its new common stock (rounded to two decimal places) should be Grade It Now Save & Continue Continue without saving