Kennedy Air Services is considering a project that has the following cash flow data. What is the project's payback? 3.21 years 2.11 years 3.05 years 250 years 3.71 years The company is expected to pay a year-end dividend of $1.25 per share, which is expected to grow at a constant rate of 6%; and the current equilibrium stock price is $40. New stock can be sold to the public at the current price, but a flotation cost of 5% would be incurred. What would the cost of equity from new common stock be? 9.40% 9.8596 9.13% 9.62% 929% A portfolio consists of the following 2 stocks: Market risk premium is 5% and the risk free rate is 6%. What is the required return on the portfolio? 12.3% 14.1% 13.7% 13.289 The firm's tax rate is 30%. Risk premium on the firm's stock over its own bond is 5%. The yield to maturity on the company's outstanding bonds is 8%. The market risk premium is 9%. What will be the firm's cost of retained earnings by the bond-yield-plus-risk-premium approach? 17% 10.6% 12% 14% 13%