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Halo Hot Air Balloons is expected to grow at 6 percent forever. Its common stock is currently selling for $40 per share, and the most

Halo Hot Air Balloons is expected to grow at 6 percent forever. Its common stock is currently selling for $40 per share, and the most recent dividend paid to common stockholders was $2 per share. If Halos cost of new common equity is 12.25 percent, what is the flotation cost charged by its investment banker?

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