ans asap

"Wano Kuni Inc.'s common stock currently sells for 540 per share, but the firm will net only $34 per share from the sale of new common stock. The firm recently paid a dividend of $2 per share on its common stock, and investors expect the dividend to grow indefinitely at a constant rate of 10 percent per year. What is the cost of newly issued common stock (Round off the answer to 4 decimal places.)