11. HighGrowth Company has a stock price of $21. The firm will pay a dividend next year of $1.17, and its dividend is expected to grow at a rate of 3.9% per year thereafter. What is your estimate of HighGrowth's cost of equity capital? The required return (cost of capital) of levered equity is ___%? (Round to one decimal place.)

12. Slow 'n Steady, Inc., has a stock price of $33, and will pay a dividend next year of $3.10, and has expected dividend growth of 1.1% per year. What is your estimate of Slow 'n Steady's cost of equity capital? The required return (cost of capital) of levered equity is _____%? (Round to one decimal place.)