Expected cash dividends are $2.00, the dividend yield is 5%, flotation costs are 7% of price, and the growth rate is 5%. Compute cost of new common stock. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

please use this google drive link to download the answer file.

https://drive.google.com/file/d/1vbOigWE1aY0ZCTamq6kyFMCyyDuwF-l7/view?usp=sharing

note: if you have any trouble in viewing/downloading the answer from the given link, please use this below guide to understand the whole process.

https://helpinhomework.org/blog/how-to-obtain-answer-through-google-drive-link