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What is the cost of new equity assuming the firm's stock price is currently selling for $10 and will pay a dividend of $2 next

What is the cost of new equity assuming the firm's stock price is currently selling for $10 and will pay a dividend of $2 next year.  The firm expects constant growth of 9.47% and floatation costs associated with the new equity issue of 20%. Write your answer as a decimal.

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