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35. UltraFlex Diving Boards, Inc., just paid a dividend of $2.25. If the firm's growth in dividends is expected to remain at a flat 5

35. UltraFlex Diving Boards, Inc., just paid

a dividend of $2.25. If the firm's growth in dividends is expected to remain at a flat 5 percent forever, then what is the cost of equity capital for Ultra Flex Diving Boards if the price of its common shares is currently $36.00?

a. 5.95%

b. 6.25%

c. 11.25%

*d. 11.56%

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