ADK industries common shares sell for $60 per share. ADK expects to set their next annual dividend at $3.75 per share. If ADK expects future dividends to grow at 9 percent per year, indefinitely, the current risk-free rate is 4 percent, the expected rate on the market is 11 percent, and the stock has a beta of 15. What should be the best estimate of the firm's cost of equity, by taking an average of the 2 estimates? Muitiple Chalce 1525 percent 1450 percent 14. 88 percent 15.03 percent