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Last year's dividend was $2.50, the anticipated constant growth rate is 4%, the selling price today is $28 per share, and flotation costs are 18%.

Last year's dividend was $2.50, the anticipated constant growth rate is 4%, the selling price today is $28 per share, and flotation costs are 18%. What is the cost of new equity?

a.
14.9%

b.
13.3%

c.
15.3%

d.
12.9%

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	a.	14.9%
	b.	13.3%
	c.	15.3%
	d.	12.9%