The difference between the flotation$-$adjusted cost of equity and the cost of equity calculated without the flotation adjustment represents the flotation cost adjustment.

Quantitative Problem: Barton Industries expects next year's annual dividend, D$1,$ to be $$1\mathrm{.}96$ and it expects dividends to grow at a constant rate gL $=4\mathrm{.}3\%.$ The firm's current common stock price, P$0,$ is $$24\mathrm{.}50.$ If it needs to issue new common stock, the firm will encounter a $5\mathrm{.}1\%$ flotation cost, F$.$ Assume that the cost of equity calculated without the flotation adjustment is $12\mathrm{.}3\%$ and the cost of old common equity is $11\mathrm{.}6\%.$ What is the flotation cost adjustment that must be added to its cost of retained earnings? Do not round intermediate calculations. Round your answer to two decimal places.

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What is the cost of new common equity considering the estimate made from the three estimation methodologies? Do not round intermediate calculations. Round your answer to two decimal places.

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