Problem 13.05 Sandhill Tire Co. just paid an annual dividend of $1.20 on its common shares. If Sandhill is expected to increase its annual dividend by 4.10 percent per year into the foreseeable future and the current price of Sandhill's common shares is $11.18, what is the cost of common stock for Sandhill? (Round intermediate calculations to 4 decimal places, e.g. 0.1555 and final answer to 2 decimal places, e.g. 15.25%.) Cost of common stock Question Attempts: 0 of 3 used