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Heavy Rain Corporation just paid a dividend of $3.08 per share, and the firm is expected to experience constant growth of 3.67% over the foreseeable future. The common stock is currently selling for $57.93 per share.

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Heavy Rain Corporation just paid a dividend of $3.08 per share, and

the firm is expected to experience constant growth of 3.67% over the foreseeable future. The common stock is currently selling for $57.93 per share. What is Heavy Rain’s cost of retained earnings using the Gordon Model (DDM) approach?

Round the answers to two decimal places in percentage form.

 
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