The Bouchard Company's EPS was $5.40 in 2021, up from $3.26 in 2016. The company pays out 30% of its earnings as dividends, and its common stock sells for $32.00. a. Calculate the past growth rate in earnings. (Hint: This is a 5-year growth period.) Round your answer to two decimal places. % b. The last dividend was D 0
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=0.30($5.40)=$1.62. Calculate the next expected dividend, D 1
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, assuming that the past growth rate continues. Do not round intermediate calculations. Round your answer to the nearest cent. $ c. What is Bouchard's cost of retained earnings, r s
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? Do not round intermediate calculations. Round your answer to two decimal places.