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Banyan Co.'s common stock currently sells for $40.75 per share. The growth rate is a constant 5%, and the company has an expected dividend 5%.
Banyan Co.'s common stock currently sells for $40.75 per share. The growth rate is a constant 5%, and the company has an expected dividend 5%. The flotation cost of 10% would be incurred. What would be the cost of new equity? Do not round intermediate calculations. Round your answer to two decimal places
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