4.5 pts DQuestion 15 Stock in Tech Express has an estimated beta of 0.92. The market risk premium is currently 10 percent and T-bills are yielding 5.5 percent. Tech Express's most recent dividend was $1.55 per share, and dividends are expected to grow at a 7 percent annual rate indefinitely. The stock sells for $32 a share. What is the estimated cost of equity using the average of the CAPM approach and the dividend growth (DGM) approach? (round answer to whole number with two decimal points: Le., use 1.23 percent instead of 0.0123) Previous Next