Palencia Paints Corporation has a target capital structure of 35% debt and 65% common equity, with no preferred stock. Its before-tax cost of debt is 8%, and its marginal tax rate is 25%. The current stock price is. The last dividend was po-$22.00, and it is expected to grow at a 5% constant rate. What is its cost of common equity ? Palencia Paints Corporation has a target capital structure of 35% debt and 65% common equity, with no preferred stock. Its before-tax cost of debt is 8%, and its marginal tax rate is 25%. The current stock price is. The last dividend was po-$22.00, and it is expected to grow at a 5% constant rate. What is its cost of common equity