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The Evanec Company's next expected dividend is $2.00; its growth rate is 7%; and its common stock now sells for $28.00. New stock (external equity)

The Evanec Company's next expected dividend is $2.00; its growth rate is 7%; and its common stock now sells for $28.00. New stock (external equity) can be sold to net $22.40 per share. What is Evanec's percentage flotation cost? Select one: a. 20% b. 7% c. 25% d. 15%

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