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You are considering a project which requires $136,000 in external financing. The flotation cost of equity is 11 percent and the cost of debt is

You are considering a project which requires $136,000 in external financing. The flotation cost of equity is 11 percent and the cost of debt is 4.5 percent. You wish to maintain a debt-equity ratio of .45. What is the initial cost of the project including the flotation costs?

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