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(Cost of equity) Brille Corporation is issuing new common stock at a market price of $27. Dividends last year were $1.75 and are expected to
(Cost of equity) Brille Corporation is issuing new common stock at a market price of $27. Dividends last year were $1.75 and are expected to grow at an annual rate of 12 percent forever. Flotation costs will be 6 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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