What is the cost of external equity and re

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Reference no: EM131059109

Messman Manufacturing will issue common stock to the public for $25. The expected dividend and growth in dividends are $3.25 per share and 3%, respectively. If the flotation cost is 16% of the issue's gross proceeds, what is the cost of external equity, re? Round your answer to two decimal places.

Reference no: EM131059109

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