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D Question 1 5 pts Suppose Google Corp is issuing new common stock at a market price of $16. The company gave $0.39 last year

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D Question 1 5 pts Suppose Google Corp is issuing new common stock at a market price of $16. The company gave $0.39 last year and expects it to grow at an annual rate of 0.7% in the foreseeable future. If the flotation costs is expected to be 0.6% of market price of the stock then, what is company's cost of equity? (State your answer in percentage with two decimal point)

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