Matt Damon Inc. just issued a semiannual coupon bond, which has a coupon rate of 6.2% and matures in 24 years. The bond's price is $948 and the par value is $1,000. Assume a tax rate of 35%. The company's after-tax cost of debt is Michael Jordan Inc.'s stock will pay $2.8 per share dividend next year. The company is expected to increase the dividend by 4.9% each year indefinitely. If ABC Inc.'s stock price is $36.83 per share, the required return on the stock is