The Bouchard Company's EPS was $6.50 in 2016, up from $4.42 in 2011. The company pays out 45% of its earnings as dividends, and its common stock sells for $35. a. Calculate the past growth rate in earnings. % b. The last dividend was D_0 = 0.45($6.50) = $2.93. Calculate the next expected dividend, D_1, assuming that the past growth rate continues. Do not round off intermediate calculations. Round your answer to the nearest cent. $ c. What is Bouchard's cost of retained earnings, r_s? Do not round your intermediate calculations. %