Masterson, Inc., has 4.5 million shares of common stock outstanding. The current share price is $90.00, and the book value per share is $11.50. The company also has two bond issues outstanding. The first bond issue has a face value of $82 million, a coupon rate of 4.9 percent, and sells for 96.6 percent of par. The second issue has a face value of $54 million, a coupon rate of 5.6 percent, and sells for 106.7 percent of par. The first issue matures in 26 years, the second in 10 years. The most recent dividend was $4.31 and the dividend growth rate is 5.4 percent. Assume that the overall cost of debt is the weighted average of that implied by the two outstanding debt issues. Both bonds make semiannual payments. The tax rate is 22 percent. S What is the company's cost of equity? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

A stock had returns of 17.75 percent, -11.68 percent, 23.60 percent, and 13.71 percent for the past four years. What is the standard deviation of the returns? Multiple Choice 15.56% 24.20% 12.44% 14.00%