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A firm's stock is selling for $89. The next annual dividend is expected to be $4.00. The growth rate is 10%. The flotation cost is

image text in transcribed A firm's stock is selling for $89. The next annual dividend is expected to be $4.00. The growth rate is 10%. The flotation cost is $4. What is the cost of retained earnings? (Round your answer to 2 decimal places.) Multiple Choice 13.14% 12.34% 15.94% 14.49%

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