Quantitative Problem: Barton Industries estimates its cost of common equity by using three approaches: the CAPM, the bond-yield-plus-risk-premium approach, and the DCF model. Barton expects next year's annual dividend, D₁, to be $2.10 and it expects dividends to grow at a constant rate g = 3.2%. The firm's current common stock price, P₀, is $20.00. The current risk-free rate, r_RF, = 4.9%; the market risk premium, RP_M, = 6.1%, and the firm's stock has a current beta, b, = 1.40. Assume that the firm's cost of debt, r_d, is 10.86%. The firm uses a 3.1% risk premium when arriving at a ballpark estimate of its cost of equity using the bond-yield-plus-risk-premium approach. What is the firm's cost of equity using each of these three approaches? Round your answers to two decimal places.

CAPM cost of equity:	%
Bond yield plus risk premium:	%
DCF cost of equity:	%