13.7 Cost of common stock: Whitewall Tire Co. just paid a $1.60 dividend on its shares. If Whitewallis expected to increase its annual dividend by 2 percent per year into the foreseeable future and the current price of Whitewall's common shares is $11.66, t is the cost of Dividend just paid (Do) $1.60 2% $11.66 Dividend growth rate (perpetu nt stock price