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Pathos Co.'s common stock is currently selling for $23.80. Dividends paid last year were $0.70. Flotation costs on issuing stock will be 10 percent of

Pathos Co.'s common stock is currently selling for $23.80. Dividends paid last year were $0.70. Flotation costs on issuing stock will be 10 percent of market price. The dividends and earning sper share are projected to have an annual growth rate of 15 percent. What is the cost of internal common equity for Pathos?

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