Johnson Enterprisess stock is currently selling for $45.56 per share, and the firm expects its per-share dividend to be $2.35 in one year. Analysts project the firms growth rate to be constant at 5.72%. Using the cost of equity using the discounted cash flow (or dividend growth) approach, what is Johnsons cost of internal equity?

10.88%

10.34%

14.69%

13.60%