Builtritersquos common stock is currently selling for 56 a, Financial Management

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Builtritersquos common stock is currently selling for 56 a

Builtrite’s common stock is currently selling for $56 a share and the firm just paid an annual dividend of $3.20 per share. Management believes that dividends and earnings should grow at 9% annually. Based on this, and a marginal tax rate of 34%, what is the cost of common stock (or cost of retained earnings)?

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Financial Management: Builtritersquos common stock is currently selling for 56 a

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Financial Management: Builtritersquos common stock is currently selling for 56 a

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