Module 7 Homework X Back to Assignment Attempts: Keep the Highest: 0/1 10. Problem 10.13 (Cost of Common Equity with Flotation) eBook Problem Walk-Through Banyan Co.'s common stock currently sells for $49.25 per share. The growth rate is a constant 7%, and the company has an expected dividend yield of 2%. The expected long-run dividend payout ratio is 30%, and the expected return on equity (ROE) is 10.0%. New stock can be sold to the public at the current price, but a flotation cost of 15% would be incurred. What would be the cost of new equity? Do not round intermediate calculations. Round your answer to two decimal places. Grade It Now Save contenu Continue without saving