The following table gives Foust Company's earnings per share for the last 10 years. The common stock, 8.4 million shares outstanding, is now (1/1/22) selling for $67.00 per share. The expected dividend at the end of the current year (12/31/22) is 60% of the 2021 EPS. Because investors expect past trends to continue, g may be based on the historical earnings growth rate. (Note that 9 years of growth are reflected in the 10 years of data.)

Year	EPS		Year	EPS
2012	$3.90		2017	$5.73
2013	4.21		2018	6.19
2014	4.55		2019	6.68
2015	4.91		2020	7.22
2016	5.31		2021	7.80

utions Problem 10.20 (WACC) Year EPS 2017 $5.73 2018 6.19 2019 6.48 2015 4.51 2020 7.22 2016 5.31 2021 7.80 The current interest rate on new debt is 11%; Foust's marginal tax rate is 25%; and its target capital structure is 55% debt and 45% equity & Caisulate fovers after-tax cast of dest. Round your answer to two decimal places ellook The towing table gives Foust Company's earnings per share for the last 10 years. The common stock, 8.4 million shares outstanding, is now (1/1/22) selling for $57.00 per share. The expected dividend at the end of the current year (12/31/22) is 50% of the 2021 EPS. Because investors expect past trends to continue, g may be based on the historical earnings growth rate. (Note that 9 years of growth are reflected in the 12 years of cata) Year 2012 2013 2014 EPS $3.90 4.21 4.55 914 Cicate Fourt's cost of commin equity Calculate the cost of equity es f-Ds/fog. Do not round intermediate calculations. Round your answer to two decimal places, der's VIACC. De net round intermediate calculations Round your answer to two decimal places. From 30 (WACC) Question of Check My Work (a remaining) Check My Work (2 remaining) Question of