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(Cost of equity) Brille Corporation is issuing new common stock at a market price of $28. Dividends last year were $1.70 and are expected
(Cost of equity) Brille Corporation is issuing new common stock at a market price of $28. Dividends last year were $1.70 and are expected to grow at an annual rate of 11 percent forever. Flotation costs will be 11 percent of market price. What is Brille's cost of equity? Brille's cost of external common equity is %. (Round to two decimal places.)
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