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A Companies next expected dividend is $2.25. Its dividend growth rate is 5% and its common stock now sells for $25.00. New stock, after adjusting

A Companies next expected dividend is $2.25. Its dividend growth rate is 5% and its common stock now sells for $25.00. New stock, after adjusting for flotations costs, can be sold at a net price of $23.45 per share. What is EMCs cost of new common stock?

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