Braswell & Sons’ common stock currently trades at $70 a shar…
Braswell & Sons’ common stock currently trades at $70 a share. It is expected to pay an annual dividend of $4.20 a share at the end of the year (D1 = $4.20), and the constant growth rate is 6.9 percent a year. What is the company’s cost of common equity if all of its equity comes from retained earnings?