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Question 3 (1 point) Steve's Specialties, Inc. paid its dividend yesterday, which as $4.00. The...

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Question 3 (1 point) Steve's Specialties, Inc. paid its dividend yesterday, which as $4.00. The dividend has been growing at a rate of 0.045 and is expected to continue indefinitely at that rate. Steve's common stock is currently trading at 24.00 per share. The firms beta is 0.83 Treasuries (T-bills) are currently yielding 0.025, Average return on the market is 0.09. Using the DCF approach, what is Steve's cost of retained earnings? (Answer in decimal form to 4 places. Do not use a percent sign, i.e 0.9999). Your

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