A company with an expected growth rate of 8% and a current share price of $18 wishes to issue new shares. If flotation costs are 5% and dividend is $1.50, what is the cost of the new shares issued (to one decimal place)?
________%
The correct answer is 16.8%.
The cost of new shares issued is calculated using the formula:
Ke = D1+ g
P0(1 - f)
= 1.50 + 0.08
18(1 - 0.05)
= 16.8%
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