|
Last Year Dividend
|
Growth Rate of Dividends
|
Selling Price of Stock
|
Floatation Costs
|
Cost of Common Equity
|
Stock Q
|
$4.45
|
7%
|
$71.18
|
$2.18
|
?
|
Calculate the cost of new common equity financing of stock Q using Gordon Model
Round the answers to two decimal places in percentage form