BB inc. just paid their annual dividend of $1.05 a share. The stock has a beta of 1.6. The return on the U.S. Treasury bill (risk-free rate) is 8 percent and the expected return on the market is 15 percent. What is the cost of equity?

Group of answer choices

11.50%

19.20%

15.00%

32.00%

11.05%