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A firm's stock is selling for $76. The next annual dividend is expected to be $4.00. The growth rate is 11%. The flotation cost is

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A firm's stock is selling for $76. The next annual dividend is expected to be $4.00. The growth rate is 11%. The flotation cost is $3. What is the cost of retained earnings? (Round your answer to 2 decimal places.) Multiple Choice 14.11% 17.71% 16.26% 14.91%

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