Mackenzie Company has a price of $31 and will issue a dividend of $2.00 next year. It has a beta of 1.5, the rigk free rate is 5.1%, and the market risk premium is estimated to be 4.9%. a. Estimate the equity cost of capital for Mackenzie. b. Under the COGM, at what rate do you need to expect Mackenzie's dividonds to grow to got the same equity cost of copital as in part (a)