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royal Mediterranean cruise lines common stock is selling for 77.64 per share. The last dividend was $.34 and dividends are expected to grow at 87%

royal Mediterranean cruise lines common stock is selling for 77.64 per share. The last dividend was $.34 and dividends are expected to grow at 87% annual rate for the foreseeable future. floatation costs on new stock sales are 6% of the saling price. what is the cost of royals new common stock? submit the answer as percentage and round 2 decimal places

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