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Blue Hamster has a current stock price of $ 2 2 . 3 5 and is expected to pay a dividend of $ 1 .

Blue Hamster has a current stock price of $22.35 and is expected to pay a dividend of $1.36 at the end of next year. The companys growth rate is expected to remain constant at 10%. If the issue's flotation costs are expected to equal 2% of the funds raised, the flotation-cost-adjusted cost of the firm's new common stock is________?

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