Cabin Cruiser Boats is evaluating the cost of its equity. The return on the market is 11.9% A firm's beta is 1.7 and the risk-free rate is 4.9%. The stock is currently selling for $16.37 and the next dividend is expected to be $2.19. The firm's growth rate is 5.2%. The cost of debt is 12.5%. Assume the equity risk premium is 4.3% Estimate the cost of equity using the bond yield plus a premium approach. Cost of equity