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BOG The Cost of Equity and Flotation Costs Messman Manufacturing will issue common stock to the public for $50. The expected dividend and the growth

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BOG The Cost of Equity and Flotation Costs Messman Manufacturing will issue common stock to the public for $50. The expected dividend and the growth in dividends are $3.25 per share and Totation cost is 15% of the issue's gross proceeds, what is the cost of external equity, re? Round your answer to two decimal places respectively. If the

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