The following financial information is available on the Haverty Company: Current per share market price $48.00 Most recent per share dividend $3.50 Expected long-term growth rate 5.0% Haverty can issue new common stock to net the company $44 per share. Determine the cost of equity raised through selling new stock using the dividend growth model approach. (Compute answer to the nearest .1%).

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The following financial information is available on the Haverty Company:
Current per share market price $48.00
Most recent per share dividend $3.50
Expected long-term growth rate 5.0%

Haverty can issue new common stock to net the company $44 per share. Determine the cost of equity raised through selling new stock using the dividend growth model approach. (Compute answer to the nearest .1%). 

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