Canvas - Xe Question 13 1 pts Crystal Company just reported a net income of $20 million. Currently, its stock is traded at $8 per share. The company expects its earnings (and therefore its dividends to continue to grow at its historical rate of 6 percent per year for the indefinite future. The current risk free rate is 3 percent and the expected return on the market portfolio is 16 percent. Beta of the company is 0.9523. What is the cost of equity? 14.23% 16.42 15.389 17.15 13.04%