To help them estimate the company's cost of capital, Golden Unicorn has hired you

as a consultant. You have been provided with the following data: D$1=$ $$1\mathrm{.}50$; Po $=$

$$25$; and gL $=3\mathrm{.}50\%($constant$).$ Based on the dividend growth approach, what is the

cost of common stock from reinvested earnings?