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Shanos Inc. would like to finance an experimental cost - saving procedure by issuing new common stock. The corporation's existing common stock currently sells for

Shanos Inc. would like to finance an experimental cost-saving procedure by issuing new common stock. The corporation's existing common stock currently sells for $187.80. Management believes that they can issue new common stock at this price, incurring flotation costs of 13.1% of the current market price. What is the stock's net market price (net proceeds)? Submit your final answer rounded to two decimal places (Ex. $0.00).
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