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Royal Mediterranean Cruise Line's common stock is selling for $41.34 per share. The last dividend...

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Royal Mediterranean Cruise Line's common stock is selling for $41.34 per share. The last dividend was $0.86, a are 14% of the selling price. What is the cost of Royal's new common stock? Submit your answer as a percent was $0.86, and dividends are expected to grow at a 7% annual rate for the forseeable future. Flotation costs on new stock sales sa percentage and round to two decimal places (Ex. 0.00%)

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