11. Assume the current selling price of a firms stock is: $100. Using the Excel file Dividend Data, compute the firms cost of equity using the Gordon dividend model.

Dividend Data
Quarter	Dividend per share
1	0.150
2	0.152
3	0.154
4	0.155
5	0.165
6	0.170
7	0.176
8	0.181
9	0.191
10	0.210
11	0.215
12	0.227
13	0.235
14	0.240
15	0.248
16	0.256
17	0.280
18	0.284
19	0.297
20	0.303
21	0.335
22	0.342
23	0.355
24	0.364
25	0.380
26	0.386
27	0.393
28	0.407
29	0.430
30	0.450
31	0.475
32	0.515
33	0.525
34	0.530
35	0.537
36	0.539
37	0.542
38	0.545
39	0.549
40	0.551
41	0.554
42	0.558
43	0.561
44	0.564