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9. Pemmywise sweets common stock currently sells for $23.00 per share, the company just paid a dividend of S2.75 per share and has a constant growth rate of 7.5%. New stock can be sold to the public at the current price, but a flotation cost of 8% would be incurred. By how much would the cost of new stock exceed the cost of retained earnings? (Do not round your intermediate caleulations) A. 2.32% B. 1.12% C. 9.40% D. 20.35% E. 21.47%