Bunkhouse Electronics is a recently incorporated firm that makes electronic entertainment systems. Its earnings and dividends have been growing at a rate of $32\mathrm{.}0\%,$ and the current dividend yield is $4\mathrm{.}00\%.$ Its beta is $1\mathrm{.}24,$ the market risk premium is $10\mathrm{.}00\%,$ and the risk$-$free rate is $3\mathrm{.}60\%.$

a$.$ Use the CAPM to estimate the firm's cost of equity.

Note: Do not round intermediate calculations. Enter your answer as a percent rounded to $2$ decimal places.

b$.$ Now use the constant growth model to estimate the cost of equity.

Note: Do not round intermediate calculations. Enter your answer as a whole percent.

c$.$ Which of the two estimates is more reasonable?

$\backslash$table$[[$a$.$ Cost of equity,,$\%$