(Growth rate in stock dividends and the cost of equity) in March of this past year, Manchesier Electric (an electical supply company operating throughout the southeastem United Stafes and a publicly held company) was ovaluating tho cost of equity capital for the firm. The firmis shares are seling for \$41. 92 a share; I expects to pay an annual cash divitiend of $3.16 a share next year, and the firm's investors anticipate an anntaal rate of return of 152 a. If the firm is expected to provide a constant annual rate of growth in dividends, what rate of growth must the firm oxperience? b. If the risk-free rate of interest is 5% and the market risk premium is 6%, what must the firm's beta be to warrant an expected rate of ratim 15% on the fim's whick? a. The constant annual rate of growth in cividends is 3. (Round fo two docimal places )