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Problem 1 0 Intro Tesla is expected to pay an annual dividend of $2.38 one year from now. Dividends are expected to grow by 3%

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Problem 1 0 Intro Tesla is expected to pay an annual dividend of $2.38 one year from now. Dividends are expected to grow by 3% every year and the current stock price is $188.5. Tesla is in the process of issuing new common stock, with flotation costs of 11% of the issue price. Part 1 W |"' Attempt1/5for10pts. What is the cost of new common stock? Previous answers: 1.298% See solution (-2 pts.)

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