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White Lion homebuilders has a current stock price of $22.35 per share and it is expected to pay a per share dividend of $2.45 at
White Lion homebuilders has a current stock price of $22.35 per share and it is expected to pay a per share dividend of $2.45 at the end of next year. The companys growth rate is expected to remain constant at 9.4%. If the issue's flotation costs are expected to equal 6.5% of the funds raised, the flotation-cost-adjusted cost of the firm's new common stock should be ____?
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