Problem 14-25 Calculating the Cost of Equlty (LO2) Cornwell Industries stock has a beta of 1.20 . The company just paid a dividend of $1.53, and the dividends are expected to grow at 4%. The expected return on the market is 11%, and Treasury bills are yielding 3.7%. The most recent stock price for the company is $72 a. Calculate the cost of equity using the dividend growth model method. (Do not round Intermedlate calculetlons. Round the flnal enswer to 2 declmal pleces.) Dividend growth model method % b. Calculate the cost of equity using the SML method. (Do not round Intermedlete calculetlons. Round the flnal answer to 3 declmal pleces.) SML method %