1. Walter Corp.'s outstanding bonds have a 5.8% coupon, 5 years left until maturity, and are currently priced at $974.67. The firm's marginal tax rate is 34%. Walter's after-tax cost of debt is ____%. Round your final answer to 2 decimal places (example: enter 12.34 for 12.34%), but do not round any intermediate work in the process. {And, do not convert to effective annual yield.}

NOTE: You should assume, as we usually have by default, that the coupon payments occur semiannually.

2. Skyler Industries's preferred stock currently sells for $39 per share. The stock pays an annual dividend of $3 per share. The cost of preferred stock, Rp, is ____%. Round your final answer to 2 decimal places (example: enter 12.34 for 12.34%), but do not round any intermediate work in the process. [Note: Correct answer feedback may show more than 2 decimal places, but you should still follow instructions above for entering your answers.]

3. Hank Corp.'s common stock currently sells for $24 per share. The most recent dividend (Do) was $2.36, and the expected growth rate in dividends per year is 6%. The cost of common equity, Re, is ____%. Round your final answer to 2 decimal places (example: enter 12.34 for 12.34%), but do not round any intermediate work in the process.