need 2nd part

DEF Company's current share price is $24.05 and it is expected to pay a 50.5 dividend per share next year. After that, the firm's dividends are expected to grow at a rate of 4.7% per year. What is an estimate of DEF Company's cost of equity? Enter your answer as a percentage and rounded to 2 DECIMAL PLACES. Do not include a percent sign in your answer. Enter your response below 6.78 Correct response: 6.7820.01 Click "Verify" to proceed to the next part of the question. DEF Company also has preferred stock outstanding that pays a $2.25 per share fixed dividend. If this stock is currently priced at $30.4 per share, what is DEF Company's cost of preferred stock? Enter your answer as a percentage and rounded to 2 DECIMAL PLACES. Do not include a percent sign in your answer. Enter your response below. Number Click "Verify" to proceed to the next part of the question. Section Attempt 1 of 1 Verify