Problem 14-4 Estimating the DCF Growth Rate [LO1] Suppose Wacken, Limited, just issued a dividend of $1.85 per share on its common stock. The company paid dividends of $1.50,$1.59,$1.66, and $1.77 per share in the last four years. a. If the stock currently sells for $45, what is your best estimate of the company's cost of equity capital using the arithmetic average growth rate in dividends? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) a. What if you use the geometric average growth rate? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)