A firms stock is selling for 78 the next annual dividend is


A firm's stock is selling for $78. The next annual dividend is expected to be $4.00. The growth rate is 7%. The flotation cost is $7. What is the cost of retained earnings? (Round your answer to 2 decimal places.)

10.78%

13.58%

9.98%

12.13%

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Financial Management: A firms stock is selling for 78 the next annual dividend is
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