The Kennedy Company is closely held and, therefore, cannot generate reliable inputs with which to use the CAPM method for estimating a compamy's cost of internal equity. Kennedy's bonds vield 11.52%, and the firm's analysts estimate that the firm's risk premium on its stock over its bonds is 3.55\%. Based on the bond-yield-plus-risk-premium approach, Kennedy's cost of Internal equity is: 16.58% 18.84% 15,07% 18.08% The cost of equily using the discounted cash flow (or dividend growth) approach Johnspn Enterprises's stock is currently selling for $32.45 per share, and the firm expects its per-share dividend to be $1.38 in one year Arialysts project the firm's growth rate to be constant at 7.27\%. Fistimating the cost of equity using the discounted cash flow (yr dividend orowth) approach, what is Johnson's cost of internal equity? 12.10% 11.52% 15.55% 14.40%