Integrativelong dashRisk and Valuation$$Given the following information for the stock of Foster$$ Company, calculate the risk premium on its common stock.$($Click on the icon here in order to copy the contents of the data table below into a$$ spreadsheet.$)$

Current price per share of common stock

$$$$52\mathrm{.}82$

Expected dividend per share next year

$$$$1\mathrm{.}26$

Constant annual dividend growth rate

$8\mathrm{.}2\%$

$$Risk$-$free rate of return

$4\mathrm{.}5\%$

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Part $1$

The risk premium on Foster stock is

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