Bob's Burgers just paid an annual dividend of $2.60 on its common stock. The firm increases its dividend by 3 percent annually. What is the company's cost of equity if the current stock price is $40 per share? Enter your answer as a 5.60 if your answer is 5.60% not 0.056 Question 7 5pts American Water Works has an issue of preferred stock outstanding with a coupon rate of 5.00 percent that sells for $90 per share. If the par value is $100, what is the cost of the company's preferred stock? If your answer is 8.60% enter 8.60 not 0.086