Barton Industries estimates its cost of common equity by using three approaches: the CAPM, the bond-yield-plus-risk-premium approach, and the DCF model. Barton expects next year's annual dividend, D1, to be $1.60 and it expects dividends to grow at a constant rate g = 5.6%. The firm's current common stock price, P0, is $23.00. The current risk-free rate, rRF, = 4.5%; the market risk premium, RPM, = 5.8%, and the firm's stock has a current beta, b, = 1.3. Assume that the firm's cost of debt, rd, is 8.5%. The firm uses a 3.8% risk premium when arriving at a ballpark estimate of its cost of equity using the bond-yield-plus-risk-premium approach.

What is the firm's cost of equity using each of these three approaches? Round your answers to 2 decimal places.

CAPM cost of equity: %

Bond yield plus risk premium: %

DCF cost of equity: %

What is your best estimate of the firm's cost of equity? -Select-