Intro Belkin is expected to pay an annual dividend of $12.38 one year from now. Dividends are expected to grow by 2.6% every year and the current stock price is $180.5. The company is in the process of issuing new common stock, with flotation costs of 13% of the issue price. Part 1 Attempt 3/3 for 0 pts. What is the cost of new common stock, according to the DCF approach? 6.8577% Incorrect Cost of external equity (equity from new common stock), according to the DCF approach: D1 Te = +9 Po (1 F) 12.38 + 0.026 180.5(1 0.13) = 0.1048 Part 2 Attempt 2/3 for 10 pts. What is the flotation cost adjustment? 14+ decimals Submit