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Expo Inc. has a current price stock price of $20 and they will pay a dividend of $1.50 next year. Their future growth rate is

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Expo Inc. has a current price stock price of $20 and they will pay a dividend of $1.50 next year. Their future growth rate is projected to be 3%. If their flotation cost for equity is 18% of the issue price what is the required return for the firm's equity? Multiple Choice 9.58% 10.85 12.15% 16.47%

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