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if correct I will rate (Cost of common equity) Falon Corporation is issuing new common stock at a market price of $28.23. Dividends last year

image text in transcribed if correct I will rate

(Cost of common equity) Falon Corporation is issuing new common stock at a market price of $28.23. Dividends last year were $1.21 and are expected to grow at an annual rate of 6.7 percent forever. What is Falon's cost of common equity capital? The company's cost of common equity is %. (Round to two decimal places.)

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