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Barton Industries expects next year's annual dividend, D 1 , to be $ 2 . 3 0 and it expects dividends to grow at a

Barton Industries expects next year's annual dividend, D1, to be $2.30 and it expects dividends to grow at a constant rate g =4.4%. The firm's current common stock price, P0, is $21.00. If it needs to issue new common stock, the firm will encounter a 4.6% flotation cost, F.
What is the flotation cost adjustment that must be added to its cost of retained earnings? Round your answer to 2 decimal places. Do not round intermediate calculations. Blank 1%
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