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Holtzman Clothiers stock currently sells for $4 per share. The company just paid a dividend of $10 per share. The dividend is expected to grow
Holtzman Clothiers stock currently sells for $4 per share. The company just paid a dividend of $10 per share. The dividend is expected to grow at a constant rate of 4.9% per year. If the company issued new stock, it would incur a 11% flotation cost. What would be the cost of equity from new stock? State your answer as a percentage to 2 decimal places.
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