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In early 2020, Saudi Fisheries Co (SIFCO) issued new common stock at a market price of $50. Dividends last year were $5.00 and are expected

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In early 2020, Saudi Fisheries Co (SIFCO) issued new common stock at a market price of $50. Dividends last year were $5.00 and are expected to grow at an annual rate of 3 percent forever. Floatation costs will be 3 percent of market price. What is SIFCO's cost of equity for the new issue

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