Quantitative Problem: Barton Industries estimates its cost of common equity by using three approaches: the CAPM, the bond-yield-plus-risk-premium approach, and the DCF model. Barton expects next year's annual dividend, D1, to be $1.60 and it expects dividends to grow at a constant rate g = 3.2%. The firm's current common stock price, P0, is $20.00. The current risk-free rate, rRF, = 5.0%; the market risk premium, RPM, = 6.5%, and the firm's stock has a current beta, b, = 1.40. Assume that the firm's cost of debt, rd, is 4.80%. The firm uses a 3.5% risk premium when arriving at a ballpark estimate of its cost of equity using the bond-yield-plus-risk-premium approach. What is the firm's cost of equity using each of these three approaches? Round your answers to two decimal places.

CAPM cost of equity: %

Bond yield plus risk premium: %

DCF cost of equity: %

What is your best estimate of the firm's cost of equity?