Done Previus Page Next Pag Page 8 of 20 Question 8 (5 points) Suppose Hornsby Ltd. just issued a dividend of $1.7 per share on its common stock. The company paid dividends of $1.2, $1.38, $1.5, and $1.62 per share in the last four years. If thes stock currently sells for $60. What is your best estimate of the company's cost of equity capital using arithmetic growth rates? 9.25% 12.25 % 10.25 % 11.25 % Previous Page Net Pag Page 8 of 20 S Qu 7ef 20 evsens saved