Assume that investors in the stock of a company a have a required rate of return of $11\mathrm{.}5833\%$ the company is just paid dividend of $$1\mathrm{.}50$ which will grow and firms constant long run substantial growth rate and the stock has a current price of $$18$ the companies investment bankers have told them that if they issue new stock they could issue it current price of $$18$ per share but the flotation costs would be equal to $2\mathrm{.}6$ per share given this information to determine the cost of issued equity