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LaForge's stocks are being sold at a current price of $50 and the last dividend paid was $4.19, and dividends are expected to grow at
LaForge's stocks are being sold at a current price of $50 and the last dividend paid was $4.19, and dividends are expected to grow at a constant rate of 5 percent for the foreseeable future. LaForge estimates that if he issues new common stock, the flotation cost will be 15 percent. What is the cost of newly issued common stock incorporating the flotation cost?
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