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Caspian Sea has a beta of 1 . 1 1 . The market risk premium is 7 . 5 6 percent, and T - bills

Caspian Sea has a beta of 1.11. The market risk premium is 7.56 percent, and T-bills are currently yielding 3.1 percent. The most recent dividend was $3.04 per share, and dividends are expected to grow at an annual rate of 2.65 percent, indefinitely. The company's cost of equity is ______. Answer to two decimals. e.g.0.1234.

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