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QUESTION 5 Holtzman Clothiers stock currently sells for $35.1 per share. The company is expected to pay a dividend of $1.32 per share in one

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QUESTION 5 Holtzman Clothiers stock currently sells for $35.1 per share. The company is expected to pay a dividend of $1.32 per share in one year. The dividend is expected to grow at a constant rate of 6.7% per year. If the company issued new stock, it would incur a 10% flotation cost. What would be the cost of equity from new stock? State your answer as a percentage to 2 decimal places

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