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The common stock for the Bestsold Corporation sells for $64. new issue is sold, the flotation costs are estimate years ago were Earnings are expected

The common stock for the Bestsold Corporation sells for $64. new issue is sold, the flotation costs are estimate years ago were Earnings are expected to continue to grow at the same annual rate in the future as during the past image text in transcribed
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(Cost of equity) The common stock for the Bestsold Corporation sols for If new issue is sold, flotation costs are estimated to be 9 percent. The company pays 60 percent of earnings in dividends, and a $3.60 dividend was recently paid. Earnings per share 3 years ago were 4.00. earnings are expected to continue to grow at the same annual rate in the future as during the past 3 years. the firm's marginal tax rate is 33 percent.
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