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Messman Manufacturing will issue common stock to the public for $95. The expected dividend and the growth in dividends are $10.00 per share and 6%,

Messman Manufacturing will issue common stock to the public for $95. The expected dividend and the growth in dividends are $10.00 per share and 6%, respectively. If the flotation cost is 15% of the issue's gross proceeds, what is the cost of external equity, re?

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