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John Ruby Company would like to estimate its cost of capital. They use the following data: D0 = $3.98; P0 = $67.32; g = 5.25%

John Ruby Company would like to estimate its cost of capital. They use the following data: D0 = $3.98; P0 = $67.32; g = 5.25% (constant); and F = 8.00%. What is the cost of equity raised by selling new common stock if the new stock can be issued at P0

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