Ice Company stock has a beta of $1\mathrm{.}84,$ the current risk$-$free rate is $5\mathrm{.}09$ percent, and the expected return on the market is $15\mathrm{.}09$ percent. What is Ice Company's cost of equity?

Multiple Choice

$42\mathrm{.}22\%$

$32\mathrm{.}86\%$

$23\mathrm{.}49\%$

$22\mathrm{.}02\%$