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Belkin is expected to pay an annual dividend of $12.38 one year from now. Dividends are expected to grow by 3.9% every year and the

Belkin is expected to pay an annual dividend of $12.38 one year from now. Dividends are expected to grow by 3.9% every year and the current stock price is $185.6. The company is in the process of issuing new common stock, with flotation costs of 10% of the issue price.

What is the cost of new common stock?

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