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Question 3 (1 point) Saved Emphyrio Inc. wishes to issue new stock to finance an aggressive expansion. Lord investment bank charges a flotation cost of

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Question 3 (1 point) Saved Emphyrio Inc. wishes to issue new stock to finance an aggressive expansion. Lord investment bank charges a flotation cost of 0.11 as a fraction of each stock sold. Emphyrio's current stock price is 96, and it expects to pay a dividend of 0.97 at the end of the year. What is Emphyrio's component cost of a new equity issue? Your

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