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What will the cost of the newly issued stock be

Question:

Roto Roofing Corp. just paid a dividend of $1.85. This dividend is expected to grow at a constant annual ratae of 3% per year. Roto Roofing's common stock is currently selling for $12.50. The firm can sell new stock at this price subject to floatation costs of 15%. What will the cost of the newly issued stock be?

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Finance Basics: What will the cost of the newly issued stock be

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Finance Basics: What will the cost of the newly issued stock be

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