Goods are never delivered under forward contracts, but are almost always delivered under futures contracts.Lepage Co. has an expected D1 of $1.375, it's expected constant divided growth rate is 6%, and it's common stock currently sells for $22.50 per share. New stock can be sold to the public at the current price, but a flotation cost of 5% would be incurred. What would be the cost of equity equity from new common stock?