(Growth rate in afock divdends and the cost of equty) in March of this past year, Maschester Electuic pert oloctrical supply company operating throughout the southeustern United Stales and a publicly held company) was evaluating the cost of equify capital for the firm The frrnis shiris are selfing for 550.28 a fhare, it expects to pay an annual cash dividend of 5333 a shace next year, and the firm's investots anticipate an annual rate of return of 15% a. If the firm is expected to provide a constant annual rate of grewth in dividends, what rate of growth must the fimt oxperience? b. If the tisk free rate of interest is 4% and the maket risk premium is 5%, what mast the frm's heta bo to warrant an axpoctesl riate of relurn 16% on the firm's stock? a. The constant annual rate of growth in dividends is 4. (Round to two decimat placis) b. The firmic betan is (Fiound to one decirral place)