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What is the stock net market price

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Cantink Corporation plans to issue new common stock for a new expansion. The corporation's existing common stock currently sells for $50.55. Management believes that they can issue new common stock at this price, incurring flotation costs of 2.56% of the current market price. What is the stock's net market price (net proceeds)? Submit your answer as a dollar amount and round your answer to two decimal places (Ex. $0.00)

Reference no: EM132396772

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