HighGrowth Company has a stock price of $21. The firm will pay a dividend next year of $1.02, and its dividend is expected to grow at a rate of 3.8% per year thereafter. What is your estimate of High Growth's cost of equity capital? The required return (cost of capital) of levered equity is % (Round to one decimal place.) Enter your answer in the answer box and then click Check Answer. All parts showing Clear All Check