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Last year the Black Water Inc. paid dividends $4.10. Companys dividends are expected to grow at an annual rate of 5% forever. The companys common

Last year the Black Water Inc. paid dividends $4.10. Companys dividends are expected to grow at an annual rate of 5% forever. The companys common stock is currently selling on the market for $59.68. The investments banker will charge flotation costs $4.24 per share. Calculate the cost of common equity financing using Gordon Model.

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