33. Problem 10.16 (Cost of Common Equity) eBook The Bouchard Company's EPS was $6.10 in 2018, up from $3.95 in 2013. The company pays out 60% of its earnings as dividends, and its common stock sells for $34.00. a. Calculate the past growth rate in earnings. (Hint: This is a 5-year growth period.) Round your answer to two decimal places. 96 b. The last dividend was Do = 0.60($6.10) = $3.66. Calculate the next expected dividend, D, assuming that the past growth rate continues. Do not round Intermediate calculations. Round your answer to the nearest cent. $ c. What is Bouchard's cost of retained earnings, is? Do not round intermediate calculations, Round your answer to two decimal places. %