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A company's stock currently sells for $50 per share, currently pays a dividend of $2, has a constant growth rate of 5.5%, and will incur

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A company's stock currently sells for $50 per share, currently pays a dividend of $2, has a constant growth rate of 5.5%, and will incur flotation costs of 7% when it issues new common stock. Approximately, what is the firm's cost of new stock, re

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