Cornwell Industries stock has a beta of $1\mathrm{.}15.$ The company just paid a dividend of $$1\mathrm{.}35,$ and the dividends are expected to grow at $4\%.$ The expected return on the market is $13\%,$ and Treasury bills are yielding $4\mathrm{.}7\%.$ The most recent stock price for the company is $$72.$

a$.$ Calculate the cost of equity using the dividend growth model method. $($Do not round intermediate calculations. Round the final answer to $2$ decimal places.$)$

Dividend growth model method

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b$.$ Calculate the cost of equity using the SML method. $($Do not round intermediate calculations. Round the final answer to $3$ decimal places.$)$

SML method

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