Sony just paid a dividend of $2.17 per share,
Sony just paid a dividend of $2.17 per share, and the firm is expected
to experience constant growth of 3.22% over the foreseeable future. The common stock is currently selling at $65.15 per share. What is the firm’s cost of retained earnings, according to the Gordon model (DDM) approach?
Round the answer to two decimal places in percentage form.