A company's common stock currently sells for $22.50 per share, the expected dividend for the coming year is $2.35, and its expected constant growth rate is 6.00%. New stock can be sold to the public at the current pe but a flotation cost of 8% would be incurred. By how much would the cost of new stock exceed the cost of retained earnings? Do not round your intermediate calculations. O a..74% Ob..82% Oc..91% O d. 51% Oe..08% Question 5 of 23

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