If sunny day expects to incur flotation costs of 650 of


Sunny Day Manufacturing Company has a current stock price of $33.35 per share, and is expected to payper-share dividend of $2.03 at the end of next year. The company's earnings and dividends' growth rate are expected to grow at the constant rate of 8.70% into the foreseeable future. If Sunny Day expects to incur flotation costs of 6.50% of the value of its newly-raised equity funds, then the flotation-adjusted (net) cost of its new common stock (rounded to two decimal places) should be ____________?

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Financial Management: If sunny day expects to incur flotation costs of 650 of
Reference No:- TGS02298584

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