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Last year the Black Water Inc. paid dividends $3.14. Company's dividends are expected to grow at an annual rate of 4% forever. The company's common

Last year the Black Water Inc. paid dividends $3.14. Company's dividends are expected to grow at an annual rate of 4% forever. The company's common stock is currently selling on the market for $57.66. The investments banker will charge flotation costs $2.39 per share. Calculate the cost of common equity financing using Gordon Model.

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