The market price of a company's equity share is Rs 50. Dividend is Rs 4 per share and the growth rate in dividend is 5%. If the company issues new equity share, the share is sold at a discount of Rs 3...

The market price of a company's equity share is Rs 50. Dividend is Rs 4 per share and the growth rate in dividend is 5%. If the company issues new equity share, the share is sold at a discount of Rs 3 because of tough competition in the market. Floatation cost is Rs 2.50 per share. Find the cost of the new equity share.