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The Phillips Tractor Company's EPS in 2018 was $2.00. EPS in 2000 was $1.3612. The company pays out 40% of its earnings as dividends, and

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The Phillips Tractor Company's EPS in 2018 was $2.00. EPS in 2000 was $1.3612. The company pays out 40% of its earnings as dividends, and the stock currently sells for $21.60. The company expects earnings of $10 million in 2019, its optimal market value debt/assets ratio is 60%, and the firm has no preferred stock outstanding. Calculate the firm's growth rate in earnings.() Calculate the firm's dividend per share expected in 2019. Assume that the growth rate calculated in (a) will continue. What is the firm's cost of retained earnings? The sale of new stock would net the company $18.36 per share. What is the firm's percentage of floatation cost? What is the cost of new common stock

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