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Brille Corporation is issuing new common stock at a market price of $32. Dividends last year were $1.20 and are expected to grow at an

Brille Corporation is issuing new common stock at a market price of $32. Dividends last year were $1.20 and are expected to grow at an annual rate of 11 percent forever. Flotation costs will be 8 percent of market price. What is Brille's cost of equity?

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