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A firm's stock is selling for $74. The next annual dividend is expected to be $4.00. The growth rate is 9%. The flotation cost is

A firm's stock is selling for $74. The next annual dividend is expected to be $4.00. The growth rate is 9%. The flotation cost is $5. What is the cost of retained earnings? (Round your answer to 2 decimal places.)

Multiple Choice

15.86%
13.06%
14.41%
12.26%

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