Your first assignment in your new job at Goodwin Robbins Overnight Overland Movers $($GROOM$)$ is to prepare an estimate of the firm's cost of capital.$$ You have gathered the following information: $$ Debt: $30$ year, $10$ percent semiannual bond, issued $9$ years ago, currently selling at $102$ percent of face value. Common Stock: $$ the company's beta is $1\mathrm{.}3,$ the market risk premium is $6\mathrm{.}5$ percent, and the risk free rate is $5$ percent.$$ GROOM just paid a $$2\mathrm{.}20$ dividend, and dividends are expected to grow at a $6$ percent annual rate indefinitely.$$ The current share price is $$38.$