Which of the following is the most appropriate risk-free rate to use for valuing a US company? Average AAA rated U.S. corporate bon yield 10-year U.S. Treasury bond yield Average BBB rated U.S. corporate bond yield 1-month U.S. Treasury bill rate Question 15 (3 points) A company reported earnings per share of $3.70 and paid dividends per share of 1.32 this year (t=0). EPS is expected to grow 10% per year over the next 3 years and will subsequently grow 4% after year 3. The company is expected to maintain a payout ratio at the same level with this year indefinitely. The cost of equity is 8%. What is the company's equity value per share based on a two-stage dividend discount model