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A firm's stock is selling for $88. The next annual dividend is expected to be $4.00. The growth rate is 8%. The flotation cost is

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A firm's stock is selling for $88. The next annual dividend is expected to be $4.00. The growth rate is 8%. The flotation cost is $6. What is the cost of retained earnings? (Round your answer to 2 decimal places.) Multiple Choice 14.00% O 12.55% O 10.40%

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