11. 12. 13. * 14. 0 15. 16. 17. 18. 19. 20. 0 0 of Common Equity) eBook Save Submit Assignment for Grading Question 13 of 20 Check My Work The Bouchard Company's EPS was $6.10 in 2021, up from $3.95 in 2016. The company pays out 40% of its earnings as dividends, and its common stock sells for $38.00. a. Calculate the past growth rate in earnings. (Hint: This is a 5-year growth period.) Round your answer to two decimal places. 0.544 % b. The last dividend was Do = 0.40($6.10) = $2.44. Calculate the next expected dividend, D1, assuming that the past growth rate continues. Do not round intermediate calculations. Round your answer to the nearest cent. $ 5.44 c. What is Bouchard's cost of retained earnings, rs? Do not round intermediate calculations. Round your answer to two decimal places. 6.91 % Hide Feedback Incorrect 0-Icon Key X Check My Work