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Kelly corporation will issue new common stock to finance an

Kelly Corporation will issue new common stock to finance an expansion. The existing common stock just paid a $0.95 dividend, and dividends are expected to grow at a constant rate of 3.35% indefinitely. The stock sells for $51, and flotation expenses of 4% of the selling price will be incurred on new shares. What is the cost of new common stock for kelly corp?

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Financial Management: Kelly corporation will issue new common stock to finance an

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Financial Management: Kelly corporation will issue new common stock to finance an

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