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The dividend growth rate is expected to be 2.2% a year. Preferred stock sells for $178...

The dividend growth rate is expected to be 2.2% a year.
Preferred stock sells for $178 and pays an annual dividend of $21.
There are currently 20 year 5.77% coupon bonds, with a face value of $1,000, that pay semi-annual payments and are non-callable available at a price of $1,015.25. The bond-yield risk premium is 3%.
The current risk free rate is .2% and the market risk premium is 5.7%.
Clorox has a target capital structure of 30% debt, 7% preferred stock and 63% common equity.
Clorox has a current stock price of $205.44 per share. The stock has a Beta of .56 and pays a dividend of $3.84 per year. Clorox has a tax rate of 20%                                                                                                                                                    Using the information provided about Clorox, what is Clorox's weighted average cost of capital?                                                                                                                                                                                      Using the Clorox information provided, what is their cost of common equity using the bond-yield - plus- risk premium method?

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