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The agent can invest in a stock modelled as a geometric Brownian motion and in a money market with constant rate of interest. He may also consume and get utility \\(U(c)=c^{1-p}/(1-p)\\), where \\(p>0,\\;p\\neq 1\\). In addition, the agent must pay a proportional transaction costs \\(\\lambda >0\\) for transferring capital between the stock and the money market. All consumptions are done from the money market. The agent wishes to maximize the expected discounted integral over \\([0,\\infty)\\) of the utility of consumption. To solve the problem, the authors heuristically derive several terms of a power series expansion of a value function in powers of \\(\\lambda^{1/3}\\). Then the rigorous expansion is presented. The asymptotic results on the boundary of the ``no-trade'' region are obtained. 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