HW 12 Submitted 3 Stock in Jansen Industries has a beta of 1.6. The market risk premium is 6 percent, and T- bills are currently yielding 5.5 percent. The company's most recent dividend was $1.90 per share, and dividends are expected to grow at an annual rate of 7 percent indefinitely. If the stock sells for $38 per share, what is your best estimate of the company's cost of equity? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) 0/10 points awarded Cost of equity % Scored eBook Ask Print References