Question: Problem 22 Previous p You have until 12:01 PM to complete this assignment. Intro Pfizer is expected to pay an annual dividend of $1.85 one

Problem 22 Previous p You have until 12:01 PM to complete this assignment. Intro Pfizer is expected to pay an annual dividend of $1.85 one year from now. Dividends are expected to grow by 3.9% every year and the current stock price is $266.7. The company is in the process of issuing new common stock, with flotation costs of $3 per share. . Attempt 1/3 for 10 pts. Part 1 What is the cost of new common stock? 1+ decimals Submit

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