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Planck's Black Radiation, Inc. just paid an annual dividend of $1.73 per share. This dividend is expected to increase by 3.3 percent annually. Currently,

Planck's Black Radiation, Inc. just paid an annual dividend of $1.73 per share. This dividend is expected to increase by 3.3 percent annually. Currently, the firm has a beta of 0.96 and a stock price of $29 a share. The risk-free rate is 4.5 percent and the market rate of return is 11.0 percent. What is the cost of equity capital (in percents) for Planck's? Answer Tolerance: 0.125

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