ABC Company's current share price is $16.35 and it is expected to pay a $1.2 dividend per share next year. After that, the firm's dividends are expected to grow at a rate of 3.9% per year. What is an estimate of ABC Company's cost of equity? Enter your answer as a percentage and rounded to 2 DECIMAL PLACES. Do not include a percent sign in your answer. Enter your response below. Number Click "Verity" to proceed to the next part of the question Section Attempt 1 of 1 Verify