Banyan Co.'s common stock currently sells for $38.25 per share. The growth rate is a constant, and the company has an expected dividend yield of 2%. The expected long-run dividend payout ratio is 30%, and the expected return on equity (ROE) is 10.0%. New stock can be sold to the public at the current price, but a flotation cost of 5% would be Incurred. What would be the cost of new equity? Do not round Intermediate calculations. Round your answer to two decimal places Project L requires an initial outlay at t - 0 of 560,000, its expected cash inflows are $12,000 per year for 9 years, and its WACC is 9%. What is the project's NPV? Do not round intermediate calculations. Round your answer to the nearest cent. $ Project L requires an initial outlay at t = 0 of 574,287, is expected cash inflows are $13,000 per year for 10 years, and as WACC 5 11% What is the project's IRR? Round your answer to two decimal places co Project requires an initial outlay at t - 0 of $67,000, its expected cash inflows are $10,000 per year for 9 years, and its WACC is 10%. What is the project's payback? Round your answer to two decimal places years